U.S. Authorities Seize $31 Million in Crypto Linked to Uranium Finance Hack
In a significant development, U.S. authorities have successfully seized approximately $31 million in cryptocurrency associated with the infamous 2021 hack of Uranium Finance. This announcement was made on Monday via a post on X by the Southern District of New York (SDNY).
This operation was the result of a collaborative effort between the SDNY and Homeland Security Investigations (HSI) based in San Diego. As of now, a spokesperson for SDNY has not responded to CoinDesk’s request for further information regarding the seizure or any ongoing investigations linked to it.
To provide context, Uranium Finance was essentially a replica of the automated market maker (AMM) Uniswap, operating on Binance’s BNB chain, previously known as Binance Smart Chain. In April 2021, a malicious actor exploited a vulnerability within Uranium’s pair contracts, leading to the theft of $50 million in various digital tokens. At that time, this incident was recognized as one of the largest financial exploits in the realm of decentralized finance (DeFi).
Following the hack, the perpetrator made various attempts to launder a portion of the stolen funds. These efforts included utilizing the crypto mixer Tornado Cash, depositing small sums of cryptocurrency into centralized exchanges, and as uncovered by blockchain investigator ZachXBT, possibly even investing in rare and highly valuable Magic: The Gathering trading cards.
The aftermath of the Uranium Finance hack was devastating, as the platform ultimately shut down, leaving numerous victims without answers or any financial restitution. The recent recovery of funds, occurring nearly four years post-attack, offers a glimmer of hope for those affected, as it marks the first opportunity for victims to potentially reclaim some of their lost assets.
