The mastermind behind the $4.3 million Remilia hack in March has successfully laundered the stolen cryptocurrency assets using the crypto mixing service Tornado Cash.
On June 17, CertiK, a blockchain analytics firm, disclosed that 1,209.5 Ether (ETH) valued at approximately $4.3 million had been funneled into Tornado Cash. CertiK was able to trace the funds back to various addresses associated with the Remilia hack that occurred on March 16.
Remilia is an autonomous decentralized organization (DAO) responsible for the creation of the Milady Maker non-fungible token (NFT) collection.
The stolen crypto assets were deposited into the mixing platform three months after the initial Remilia hack. Following the hack on March 16, the founder of Remilia and Milady, Krishna Okhandiar, also known as Charlotte Fang, reported being the victim of a hack. Significant amounts of ETH and NFTs were transferred to a wallet that proceeded to liquidate the assets upon receipt.
The incident was brought to light by an account known as Dumpster DAO on X, which shared a screenshot of the Remilia founder reporting the hack. The X account also revealed the address that had received the assets from wallets connected to Remilia. Blockchain data indicated that the address had sold NFTs associated with Milady, including staked NFTx assets, and had transferred $1 million in ETH to another address.
Just two days after the hack, a meme coin paying tribute to the Milady NFTs successfully launched a presale on the Solana network. On March 18, the meme token Milady Wif Hat (LADYF), inspired by the dog-themed meme coin Dog Wif Hat (WIF), attracted 91,486 Solana (SOL) within two hours of the announcement, amounting to $18.7 million at the time.
Due to oversubscription, the team announced that they would refund all excess SOL to the senders. Since then, the token’s value has dropped, reaching a new all-time low of $0.00001703 on June 14.
The creators of the meme coin clarified on their website that they have no affiliation with Charlotte Fang or the Milady Maker NFTs. They stated, “This token is simply a tribute to an NFT collection that we all admire and acknowledge.”
In other news, a recent analysis has revealed the favorite exploit of the Lazarus Group, known for their involvement in various crypto hacks.