2023-10-11 16:03:55
The purchase was made from a digital wallet containing a series of transactions that were anonymized using Ethereum mixer provider Tornado Cash. One NFT of CrypToadz – whose price does not even reach $1000 – was bought for 1.055 Wrapped Ethereum (wETH). The amount paid is roughly $1.6 million. The deal was launched on OpenSea’s market on October 9. The NFT depicts a “small, warty, amphibious” creature. One of 6,969 units modeled by digital artist Gremplin. The CrypToadz collection was launched during the 2021 NFT boom. At that time, it generated a turnover of 12,000 ether ($38 million at an exchange rate of $1,574) in the first 10 days from its release. Nevertheless, the amount paid by the anonymous user raised serious questions in the community. Two weeks ago, this NFT was bought for 0.95 ETH (roughly $1,600), only to be sold for 1,000 times more. If that wasn’t enough, the purchase was funded from a digital wallet that had a series of anonymous transactions that were obfuscated with the help of Ethereum mixer provider Tornado Cash. On October 5, 1115.9 ETH ($1.6 million) was added to the wallet of the new owner of CrypToadz NFT. Our related article: The developers of Tornado Cash are accused of money laundering and evasion of sanctions. Although some X users believe that the purchase may have been the result of a “fat-finger error”, some do not rule out the possibility of wash trading. This is a tactic where someone trades with themselves in order to give the appearance of serious interest in their crypto asset. Tornado Cash is relatively popular among hackers who want to launder their money this way. In August 2023, the US Office of Foreign Assets Control (OFAC) also set the prospect of sanctions against cryptomixer providers, but these did not prove to be effective in curbing them. In July 2023, for example, the roughly $60 million worth of ether stolen from AnubisDAO two years earlier was run through Tornado Cash. The hacker currently owns 13,556 ETH.
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