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Kyber Network Exploit: Hacker Uses Tornado Cash to Launder $1.65 Million in Stolen ETH

The hacker who targeted Kyber Network has reportedly sent $1.65 million in Ethereum through Tornado Cash, an Ethereum mixing protocol. This has raised concerns among regulators as Tornado Cash has been used by scammers and hackers. In November 2021, Kyber Network's KyberSwap was hacked, resulting in the theft of $47 million and a 90% drop in total value locked. The sale of ETH from the attack could impact the price of the cryptocurrency, which has already fallen 2.9% in the past 24 hours. Kyber Network's native token, KNC, has also seen a sharp decline and is trading at a significant discount to its all-time high.

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