TechFlow reported on June 17 that blockchain analyst PeckShield (@PeckShieldAlert) detected new fund movements from an address labeled as the UXLINK attacker. According to the monitoring data, the address swapped about 14.6 million DAI for 8,298.6 ETH. DAI is a dollar-pegged stablecoin, while ETH is the native asset of the Ethereum network, meaning part of the address’s stablecoin holdings was converted into ETH.
Funds Were Then Deposited Into Tornado Cash
After the swap, the same address deposited 8,340 ETH into Tornado Cash. Tornado Cash is an Ethereum-based mixing protocol used to obscure on-chain fund flows. PeckShield also tracked a separate movement in which the address transferred 2.64 ETH, worth about $4,630 according to the original report, from Ethereum to a Bitcoin address through a cross-chain transfer.
At the time of the monitoring update, the address labeled as the UXLINK attacker still held 10.54 million DAI. The reported activity includes the DAI-to-ETH swap, the Tornado Cash deposit, and the cross-chain transfer from Ethereum to a Bitcoin address, all based on PeckShield’s on-chain tracking.