Hinkal protocol exploited for $820K; attacker launders funds through Tornado Cash and THORChain.
Security & Exploits ·
Hinkal protocol experienced an exploit resulting in approximately $820K in losses, according to a report cited by PeckShield. The attacker moved 410 ETH—valued at roughly $700K—through Tornado Cash, a mixing service, and bridged an additional 44.7 ETH from Ethereum to Bitcoin via THORChain.
The attack highlights the ongoing risk of fund laundering through privacy mixers and cross-chain bridges, techniques commonly deployed after major protocol exploits to obscure the movement of stolen assets. The split routing across two distinct laundering methods suggests an attempt to fragment and obscure the flow of proceeds across multiple blockchains.
What remains unclear is the precise attack vector used to compromise Hinkal, whether the full stolen amount has been accounted for, and whether law enforcement or blockchain analysis firms are actively tracking the remaining funds moved through these channels.