According to on-chain analyst Yu Jin, attackers from two DeFi protocols generated $28.56 million in buying pressure to accumulate ETH on March 22nd.
The cash flow was generated by swapping stolen assets and selling Mint Token Sale , then buying ETH totaling tens of millions of dollars, reflecting significant buying pressure from wallets involved in the security incident.
- Two DeFi attackers generated $28.56 million in ETH buying pressure.
- Venus THE attacker exchanged BNB, BTC, and CAKE to buy 2,257.3 ETH.
- Resolv USR attacker sells USR over- Mint to buy 11,437 ETH.
The scale of ETH purchases from the hacked wallets.
Two addresses linked to the DeFi attack purchased a total of 13,694.3 ETH, equivalent to $28.56 million, on March 22nd.
According to Yu Jin, this buying power came from two sources: (1) the Venus THE attacker swapped assets withdrawn from Venus; (2) the Resolv USR attacker sold over-minted USR to convert to ETH.
The total purchase volume of $28.56 million is the sum of $4.72 million (Venus) and $23.84 million (Resolv). The purchases took place directly on- chain through swap transactions and ETH purchases, rather than deposits/withdrawals via centralized exchanges (no exchange data is included in the original content).
Details of each protocol: Venus and Resolv
Venus THE attacker exchanged BNB, BTC , and CAKE for 2,257.3 ETH ($4.72 million).
The BNB, BTC, and CAKE asset group is described as being extracted from Venus, then converted into ETH on the same day. The volume of purchases from this branch accounted for approximately 16.5% of the total $28.56 million in buying activity.
The Resolv USR attacker sold overminted USR and bought 11,437 ETH ($23.84 million). This accounted for approximately 83.5% of the total purchase, indicating that the conversion to ETH mainly came from Dump overminted USR and then restructuring it into ETH.
