According to on-chain analyst Specter, the attacker who drained funds from the well-known MEV trader JaredFromSubway has now funneled approximately $5.1 million of the stolen assets through the privacy protocol Tornado Cash. Specter noted on social media that the attacker appears to have no intention of returning any of the funds.
Details of the Laundering Operation
A few hours ago, the attacker deposited 2,000 ETH into Tornado Cash in 20 separate transactions of 100 ETH each. Simultaneously, the attacker swapped the remaining 1,422 ETH for approximately $2.44 million in DAI stablecoins. Out of the total $7.5 million stolen from JaredFromSubway's wallet, roughly 68% (equivalent to $5.1 million) has now been mixed through Tornado Cash in the form of ETH.
Event Timeline and Current Status
On June 20, on-chain data revealed a drain of over $7 million from a wallet linked to JaredFromSubway, leading to speculation that his MEV bot had been compromised. The attacker's address is 0x3e37f4A10d771Ba9dE44b6d301410b1BEdeA65d0. Specter issued the first alert that day and called on the community to help identify what happened.
As of June 23, the attacker still holds approximately $2.44 million in DAI. No further laundering steps have been observed on that stablecoin. Specter concluded the thread with a cautionary "Stay smart," urging the crypto community to remain vigilant about the evolving money trail. The incident underscores security risks associated with MEV strategies, though the exact exploitation method requires further investigation.