A hacker behind the recent exploit of DeFi trading protocol TrustedVolumes has swapped approximately $5.87 million in stolen assets for Ethereum (ETH), according to blockchain security firms Beosin and PeckShield. The funds, now held in two separate wallets containing 1,291.07 ETH and 1,222.12 ETH, were converted through decentralized exchanges in an apparent attempt to obscure the trail.
The breach, attributed to a critical flaw in the protocol’s fillOrder function, allowed the attacker to bypass signature validation and forge trading orders. SlowMist’s audit of the drained assets revealed 1,291 ETH ($3.02M), 16.94 WBTC ($1.37M), 1.26 million USDC, and 206,000 USDT. Security analysts from Blockaid noted that the same hacker may also be responsible for a previous exploit on 1inch, underscoring a pattern of targeting RFQ-based protocols with similar vulnerabilities.
Following the theft, the attacker immediately laundered the stolen stablecoins and WBTC into ETH, a common tactic to consolidate loot before using mixers or privacy tools. The incident highlights ongoing risks in decentralized finance and the importance of rigorous smart contract audits.
