Garden Hacker Cleans $11M Using Tornado Cash
Garden Hacker Laundering Incident: The Garden hacker is laundering $11 million in stolen assets through Tornado Cash, primarily using Ethereum (ETH) and Binance Coin (BNB), raising concerns about internal security failures and potential insider involvement.
Community Backlash and Security Concerns: The incident has sparked significant backlash within the cryptocurrency community, highlighting a heightened sense of insecurity and complicating efforts to trace transactions, which may lead to regulatory scrutiny on anonymous transaction platforms.
Historical Context of DeFi Exploits: This laundering activity mirrors previous DeFi exploits where hackers utilized Tornado Cash, suggesting a pattern that could result in increased regulatory pressure on privacy-focused services and a need for enhanced security measures.
Impact on Garden Protocol's Reputation: The reputational damage to the Garden protocol is considerable, as it was previously recognized for its bridged assets, and the incident raises questions about the overall trust in DeFi systems and their security protocols.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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