A recent revelation from the Blockchain Zachxbt ‘blockchain investigator revealed the loss of $ 29 million in SUP tokens in December 2024.
This alarming incident highlights the persistent risks against the blockchain sector.
The attackers launch $ 29 million in tokens on stolen using Tornado Cash
On January 26, the investigator of the Blockchain Zachxbt revealed the details of the feat, which targeted a major holder on the SU network.
The striker would have siphone 6.27 million SUP tokens, worth $ 29 million on December 12. The stolen assets were transferred from Suit to Ethereum using bridging tools, then bleached by smaller tornado species to obscure the path.
After the breach, the affected user quickly moved his domain farms. Sui to a secure wallet to avoid other losses. However, efforts to retrace stolen funds remain hampered by limited analysis tools and monitoring capacities available on the Su sur network.
“The victim transferred their areas. Suiui to a new address without compromise shortly after the flight. The current limitations with the Explorers Sui Block and the analysis tools followed by theft difficult to trace ”, Zachxbt wrote.
This case is part of a larger scheme of increasing exploits in the blockchain space. For example, Exchange Phemex, based in Singapore, recently reported a suspicious activity involving its hot wallets. The estimated losses of the company exceed $ 37 million on assets like Bitcoin, Ethereum and Tron.
Market experts have stressed that such incidents highlight the persistent risks faced by established and emerging blockchain ecosystems.
The Blockchain SU, launched in 2023, has acquired importance as a layer 1 network designed for decentralized applications. Its adoption of the moving programming language and support for the treatment of parallel transactions have fueled its rapid growth.
At the time of the press, the market capitalization of SUA had reached $ 12 billion, guaranteeing its position of 16th largest cryptocurrency with more than 50 million accounts recorded. This rapid increase has undoubtedly made the network attractive for bad players.
Despite these challenges, SU remains focused on strengthening its ecosystem. The co-founder of the blockchain, Adeniyi Abiodun, said that the network planned to extend its scope in 2025 by supporting sectors such as artificial intelligence, games and fintech. SUP aims to rely on achievements such as transaction speeds lower than the second and innovations in finance and decentralized games to introduce more practical applications.
“2025 We are going far beyond” faster purpose “. We design a future where SUP becomes the backbone of finance, game, AI -centered agents and everyday applications, “said Adeniyi.
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