$2M Coin Poker Hack

On Nov 18, 2024, CoinPoker’s hot wallet was compromised across Binance Smart Chain, Ethereum, and Polygon, leading to the theft of approximately $2 million in USDT. The attacker gained access to the wallet, swapped the stolen funds into various native tokens on multiple chains, and ultimately funneled them through Tornado Cash to obscure their trail.

The hack involved multiple transactions that suggested CoinPoker’s hot wallet was operating under specific custodial policies. With unauthorized control established, the attacker systematically moved funds into native currencies and took advantage of cross-chain swaps to facilitate laundering. This series of transfers indicates a well-coordinated strategy, leveraging known privacy tools like Tornado Cash, and highlights the ongoing vulnerability of centralized crypto custodial solutions.