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    Home»Crypto News»Feds Get better $31 Million in Crypto From 2021’s Uranium Finance Exploit – Decrypt
    Feds Get better  Million in Crypto From 2021’s Uranium Finance Exploit – Decrypt
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    Feds Get better $31 Million in Crypto From 2021’s Uranium Finance Exploit – Decrypt

    By Crypto EditorFebruary 25, 2025No Comments4 Mins Read
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    Feds Get better $31 Million in Crypto From 2021’s Uranium Finance Exploit – Decrypt

    U.S. authorities have made a breakthrough in recovering funds misplaced to crypto crime, seizing $31 million in crypto tied to the 2021 hack of DeFi platform Uranium Finance.

    The seizure comes after a coordinated effort by the U.S. Legal professional’s Workplace for the Southern District of New York (SDNY) and Homeland Safety Investigations in San Diego, the SDNY introduced in a tweet Monday.

    SDNY and @HSISanDiego seize cryptocurrency value roughly $31 million associated to April 2021 hack of Uranium Finance. For those who imagine you might have been a sufferer of this hack, please contact [email protected].

    — US Legal professional SDNY (@SDNYnews) February 24, 2025

    The hack, which came about on April 28, 2021, exploited a vulnerability in Uranium Finance’s good contracts, enabling the attacker to inflate the platform’s steadiness and extract $50 million in varied cryptos.

    The stolen funds included $36.8 million in BNB (BNB) and stablecoin Binance USD (BUSD), together with Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), Cardano (ADA), and Uranium’s native token U92.

    The now-defunct DeFi platform was attacked throughout the transition of its protocol to the V2.1 model.

    A bug within the platform’s pair contracts—used to handle liquidity pairs in its automated market maker (AMM)—enabled the attacker to withdraw practically all belongings from the protocol.

    AMMs are utilized in decentralized exchanges to allow folks to commerce cryptocurrencies immediately with one another utilizing swimming pools of belongings somewhat than counting on a standard order ebook.

    Following the theft, the hacker laundered the funds utilizing the Ethereum-based coin mixer Twister Money earlier than transferring them to centralized exchanges, creating a fancy path for authorities to comply with.

    The authorities have arrange a devoted e-mail–[email protected]–for victims of the exploit to report their grievances.

    The platform’s web site and social media have remained silent because the assault, leaving traders with out recourse till now.

    Pseudonymous on-chain crypto sleuth ZachXBT performed a key function in uncovering the laundering course of.

    In a tweet at this time, ZachXBT referenced his December 2023 report detailing how the stolen funds had been funneled via Twister Money and later used to buy high-value buying and selling playing cards, particularly “Magic: The Gathering” playing cards.

    A number of hours in the past it was introduced that $31M from the Uranium Finance exploit was seized by US legislation enforcement.

    In Dec 2023 I posted an investigation for the $50m Uranium exploit on BSC detailing how the exploiter had laundered $10.5M by way of Magic The Gathering buying and selling playing cards utilizing a… pic.twitter.com/tJtY54V2vf

    — ZachXBT (@zachxbt) February 25, 2025

    “Magic: The Gathering” buying and selling playing cards are collectible playing cards utilized in a preferred technique sport, with some uncommon playing cards fetching vital worth.

    ZachXBT’s December investigation revealed that the hacker withdrew 11,200+ ETH, value $25 million, from the coin mixer, transferring it via a number of addresses earlier than spending tens of millions on buying and selling playing cards, which had been then despatched to a U.S.-based dealer.

    This course of concerned changing ETH right into a wrapped token (wETH) after which again once more, making it tougher for exchanges to detect and flag the transactions as suspicious, thus bypassing normal anti-money laundering (AML) checks.

    Alongside his work on the Uranium Finance exploit, ZachXBT has helped expose these answerable for different main crypto assaults.

    His evaluation performed a pivotal function in unmasking the perpetrators behind the latest Bybit change hack, one of many largest exploits in crypto historical past, by which over $1.4 billion in belongings had been stolen.

    The crypto safety investigator’s evaluation traced the assault again to the Lazarus Group, a infamous North Korean hacking entity answerable for a number of high-profile crypto hacks lately.

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