MistTrack Analysis of the $90 Million Stolen from Liquid Exchange
2022-04-27 • Slowmist •
SlowMist’s MistTrack analysis covers the August 2021 Liquid Exchange breach, where attackers stole more than $90 million from the Japanese exchange’s hot wallet across BTC, ETH, ERC-20, TRX, TRC-20, XRP and other assets. The source tracks laundering across Bitcoin, Ethereum, Tron and XRP, including peel-chain behavior on BTC, token swaps through Uniswap and Sushi, 16,000 ETH deposited into Tornado Cash, renBTC bridging to Bitcoin, and use of Wasabi-style wallet flows. Tron funds were converted to TRX and sent through Huobi and Binance, while XRP was moved to Binance, Huobi and Poloniex. The report is useful for AML tracking because it maps how a multi-chain exchange theft was broken up through mixers, DEXs, bridges, and centralized exchanges while many funds remained under attacker control.