TREE NEWS reports: The suspected hacker behind the Ledger reseller CryptoBillis exploit has moved 430.2 ETH, worth about $1.07 million, into Tornado Cash via four wallets. After Tether froze related funds, the hacker is converting USDT to USDD through SUN.io and USDD’s PSM, with some funds sent to a Binance hot wallet. The Arkham-flagged address still holds roughly $70.6 million, including 11,406 ETH, 213.37 BTC, 13.65 million USDD and 10.91 million USDT.
Ledger Exploit Hacker Swaps USDT for USDD, Still Holds $70.6M
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AI take
The shift into USDD after Tether's freeze shows how stablecoin-level blacklisting pushes illicit flows toward less-policed issuer rails, a dynamic worth tracking as a stress test of USDD's peg and redemption plumbing. Routing through Tornado Cash and a Binance hot wallet also keeps the laundering trail in familiar territory. The open question is whether the still-large balance of ETH and BTC gets liquidated in chunks or continues cycling through privacy tools and exchanges.
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