Key Points
- Noones, a Bitcoin peer-to-peer marketplace, may have been exploited for $7.9 million.
- The stolen funds were reportedly moved through Tornado Cash, a crypto mixer.
Noones, a peer-to-peer marketplace dealing with Bitcoin, appears to have been the victim of a significant security breach. In the early days of January, approximately $7.9 million was suspiciously withdrawn from the platform’s hot wallets on Ethereum, TRON, Solana, and BNB Chain. This information was revealed by ZachXBT, an on-chain investigator, in a Telegram post on January 24.
The Hack
ZachXBT’s investigation revealed hundreds of transactions, all below $7,000, as the funds were being drained. The stolen assets were transferred between Ethereum and BNB Chain before being moved into Tornado Cash. Tornado Cash is a crypto mixer frequently used to hide the path of stolen funds.
The timing of the hack was suspicious. Noones had announced maintenance around the same period, but no official statement was made about any security incident. At the time of writing, Noones has not made any public comments on the issue.
About Noones
Noones was established in 2023 by Ray Youssef, the former co-founder of Paxful, another player in the peer-to-peer crypto trading industry. Youssef envisioned Noones as a more community-focused alternative to Paxful, aiming to offer users easier access to crypto and digital payments while avoiding some of the challenges he faced at Paxful.
