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Remilia Hack: $4.3 Million ETH Sent to Tornado Cash

Tornado Cash Remilia

Using the crypto mixer Tornado Cash, the hacker in charge of the $4.3 million Remilia hack in March has syphoned the acquired crypto assets.

Blockchain analysis firm CertiK revealed on June 17 that 1,209.5 ETH was worth around $4.3 million put into Tornado Cash. CertiK claims that the funds originated at several addresses connected to the March 16 Remilia breach.

Background on Remilia and the Hack

Responsible for the Milady Maker non-fungible token (NFT) collection, Remilia is a distributed autonomous company (DAO).

About three months following the Remilia hack, the crypto funds were deposited on the mixing platform.

Remilia and Milady founder Krishna Okhandiar, sometimes Charlotte Fang, said they were hacked on March 16. The revelation is noteworthy since large volumes of ETH and NFTs were moved to a wallet that sold the acquired assets following receipt.

Dumpster DAO on X provided a screenshot of the Remilia founder reporting the hack, highlighting the event. The X account also revealed the address from which wallets associated with Remilia obtained the assets.

Movements of the Stolen Funds

Blockchain records revealed the account sold Milady-linked NFTs—including staked NFTx assets—and moved $1 million in ETH to another address.

Two days following the breach, a memecoin honoring Milady NFTs effectively carried out a presale on the Solana network. Inspired by the dog-themed memecoin Dog Wif Hat (WIF), Milady Wif Hat (LADYF) garnered 91,486 Solana barely two hours after the introduction, which at the time valued $18.7 million.

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The team declared it would refund all the extra SOL to the senders since the presale was oversold. The price of the asset has dropped since then; on June 14, it reached a new all-time low of $0.00001703.

The memecoin founders on their website made it clear they had nothing to do with Charlotte Fang and the Milady Maker NFTs. “This token is just honoring an NFT collection we all enjoy and acknowledge,” they said.

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