The individual behind the $4.3 million Remilia breach in March has funneled the stolen cryptocurrency assets using the crypto mixer Tornado Cash.
As per the report by blockchain analysis firm CertiK on June 17, a total of 1,209.5 Ether (ETH) valued at around $4.3 million was transferred to Tornado Cash. CertiK noted that these assets could be traced back to various addresses associated with the Remilia hack that occurred on March 16.
Remilia is an autonomous decentralized organization (DAO) responsible for the Milady Maker non-fungible token (NFT) collection.
The crypto assets were added to the mixing platform approximately three months after the Remilia hack took place. On March 16, the founder of Remilia and Milady, Krishna Okhandiar, also known as Charlotte Fang, reported being hacked. A considerable amount of ETH and NFTs were moved to a wallet that promptly liquidated the assets upon reception.
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 disclosed the address that accepted the assets from wallets connected to Remilia.
Blockchain data revealed that the address sold NFTs linked to Milady, including staked NFTx assets, and transferred $1 million in ETH to another address.
Shortly after the hack, a memecoin inspired by Milady NFTs successfully held a presale on the Solana network. On March 18, the meme token Milady Wif Hat (LADYF), based on the dog-themed memecoin Dog Wif Hat (WIF), attracted 91,486 Solana (SOL) just two hours post the announcement, valued at $18.7 million back then.
Due to oversubscription, the team declared that they would refund all the surplus SOL to the senders. Subsequently, the price of the asset declined, hitting a new all-time low of $0.00001703 on June 14.
The creators of the memecoin clarified on their website that they have no affiliation with Charlotte Fang and the Milady Maker NFTs. They emphasized that the token is merely a tribute to an NFT collection that they admire and acknowledge.
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