The individual behind the $4.3 million Remilia hack in March has successfully laundered the stolen cryptocurrency assets using the crypto mixer Tornado Cash.
Blockchain analysis firm CertiK reported on June 17 that 1,209.5 Ether (ETH) valued at $4.3 million had been deposited into Tornado Cash. CertiK traced these assets back to various addresses associated with the Remilia hack that took place on March 16.
Remilia is a decentralized autonomous organization (DAO) responsible for the Milady Maker non-fungible token (NFT) collection.
The stolen crypto assets were transferred to the mixing platform approximately three months after the Remilia hack. On the day of the hack, Remilia and Milady founder Krishna Okhandiar, also known as Charlotte Fang, reported being hacked. Large amounts of ETH and NFTs were moved to a wallet that liquidated the assets upon receipt.
The incident gained attention when an account named Dumpster DAO on X shared a screenshot of the Remilia founder reporting the hack. The X account also revealed the address that received assets from wallets associated with Remilia.
Blockchain records indicate that the address sold NFTs linked to Milady, including staked NFTx assets, and transferred $1 million in ETH to another address.
In other news, just two days after the hack, a meme coin inspired by Milady NFTs conducted a successful presale on the Solana network. The meme token Milady Wif Hat (LADYF) attracted 91,486 Solana (SOL) within two hours after the announcement, amounting to $18.7 million at the time.
The presale was oversubscribed, leading the team to announce that they would return all additional SOL to the senders. The price of the asset has since dropped, hitting a new all-time low of $0.00001703 on June 14.
The creators of the meme coin clarified on their website that they are not affiliated 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 appreciate.”
In a related story, an analysis of crypto hacks revealed the favorite exploit of the Lazarus Group.