Eocene | Mixer Insights

We watch
🔥the money flow through the mixers
🔥what's happening in the secret corners of blockchains
Powered by Eocene Research | @EoceneSecurity | @EoceneNI

[Eocene | Mixer Insights @EoceneMI]

Fund tracing is usually stopped by mixers, but sometimes they left traces behind for us to track.👀👀👀
💥Powered by Eocene's analytic framework, we try to find on-chain clues and analyze where the money goes after mixing.

[Eocene | Mixer Insights @EoceneMI]

7) In conclusion, the stolen funds of Merlin that were deposited into FixedFloat eventually flowed into five exchanges: MEXC (38.87%), Binance (35.70%), OKX (18.92%), Bitget (6.45%), and Sideshift (0.05%).
@TheMerlinDEX

[Eocene | Mixer Insights @EoceneMI]

🟥Merlin Stolen Funds Tracking
On 26th April 2023, Merlin, a zkSync-based decentralized exchange @TheMerlinDEX suffered a hack on its liquidity pool and lost $1.82 million. 10% of the stolen funds were deposited into the KYC-free exchange FixedFloat for mixing.

[Eocene | Mixer Insights @EoceneMI]

6) The funds in address 5 finally flowed into OKX（30000 USDT）, MEXC（50000 USDT）, and Binance（8000 USDT）.

[Eocene | Mixer Insights @EoceneMI]

@kucoincom 7) Related @DuneAnalytics queries:
https://t.co/xGi1PB5HuD

https://t.co/N7jc6inVYu

[Eocene | Mixer Insights @EoceneMI]

It seems that @FixedFloat switched its liquidity source from @binance to @kucoincom.

1) As we mentioned in an earlier article, FixedFloat will transfer crypto assets out of CEX when its hot wallet doesn't have enough assets. https://t.co/UZflMgRG6C

[Eocene | Mixer Insights @EoceneMI]

6) We don't know the exact reason for sure. But maybe it is time we watch how @kucoincom team reacts to this.

[Eocene | Mixer Insights @EoceneMI]

On-chain sleuth guys, you might wanna read this
@zachxbt @MetaSleuth @ScopeProtocol @chainalysis

[Eocene | Mixer Insights @EoceneMI]

We wrote an article about KYC-free instant crypto exchanges like @FixedFloat. What are they?

[Eocene | Mixer Insights @EoceneMI]

Short answer: they are exchanges that do not require KYC so they are sometimes used to launder crypto.

Long answer: https://t.co/ioKXZOf2N3
In this article, we introduce what these exchanges are, how they execute the transactions, and how they are used in crypto laundering.