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Crypto DeFi

Suspected Hacker Swaps 1,670 ETH From Tornado Cash for ZEC on Hyperliquid

A suspected hacker moved 1,670 ETH, worth about $3.73 million, out of Tornado Cash and deposited it into Hyperliquid over a 20-hour period, then sold the entire amount and swapped it into ZEC, on-chain tracker Lookonchain reported on Nov. 8. The ETH was fully liquidated on the exchange before being converted to ZEC.

Original source

AI take

The notable signal here is the route rather than the size: funds exiting Tornado Cash and being converted through a perpetuals venue into a privacy-oriented asset points to a laundering pattern that leans on exchange liquidity and an asset with a smaller on-chain footprint than ETH. For Hyperliquid, this is another data point on how permissionless perp venues become conversion rails for tainted flows, which matters to compliance teams and anyone tracking exchange-level risk. Whether ZEC's role as a destination in such swaps persists, and how venues like Hyperliquid screen for it, is the open question.

Generated by AI for reference only.

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