November 13, 20261 min read0 views

Pando Rings-Linked Wallet Sends 4,000 ETH to Tornado Cash

A wallet linked to the Pando Rings exploit acquired 7,548 Ether (ETH), valued at about $16.72 million, then sent 4,000 ETH to Tornado Cash in a new transaction.

Earlier in November, the wallet converted 16.7 million Dai (DAI) into the 7,548 ETH. The 4,000 ETH transfer was valued at about $9.17 million and accounted for slightly more than…

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A wallet linked to the Pando Rings exploit acquired 7,548 Ether (ETH), valued at about $16.72 million, then sent 4,000 ETH to Tornado Cash in a new transaction.

Earlier in November, the wallet converted 16.7 million Dai (DAI) into the 7,548 ETH. The 4,000 ETH transfer was valued at about $9.17 million and accounted for slightly more than half of the purchase; the other 3,548 ETH were not included in that reported deposit. Lookonchain characterized the transfer as a suspected effort to route and obscure the funds through Tornado Cash, a mixing protocol.

The Pando Rings exploit dates to November 2022, when about $20 million was stolen. The address also moved 800 ETH through Tornado Cash in August and sold 6,240 ETH in June for more than $290,000 in profit. The transfers stretch across several months and remain tied to funds from the 2022 exploit.