Hacker Exploits Sui, Funnels $29 Million via Tornado Cash

A recent investigation has revealed that $29 million worth of Sui (SUI) was stolen from a single victim in December.

Blockchain analyst ZachXBT uncovered the theft, which occurred on December 12, showing how the hacker bridged the stolen funds to Ethereum before laundering them through Tornado Cash, a crypto mixer known for its anonymization capabilities.

The victim responded by securing their .sui domains to an uncompromised wallet, but limitations in Sui’s tracking tools have made tracing the full extent of the theft challenging. Tornado Cash, sanctioned by the U.S. in 2022 for its role in illicit financial activities, remains a favored tool for obscuring stolen assets.

Crypto thefts have been on the rise, with blockchain security firm PeckShield reporting over $3 billion lost in 2024—a 15% increase from 2023.

Of this, $2.15 billion was linked to hacks, while scams accounted for $834.5 million. Despite this surge, 2024’s losses were slightly lower than 2022’s $3.6 billion, highlighting the ongoing challenges in securing digital assets.