Noones Peer-to-Peer Marketplace Hit by $7.9 Million Hack

Noones, a Bitcoin peer-to-peer marketplace, has reportedly been exploited for $7.9 million. The platform’s hot wallets on Ethereum, TRON, Solana, and BNB Chain were drained in early January, according to blockchain investigator ZachXBT.

Stolen Funds Routed Through Tornado Cash

ZachXBT revealed the incident in a Telegram post on January 24, highlighting hundreds of transactions, each under $7,000. The stolen funds were bridged between Ethereum and BNB Chain before being funneled into Tornado Cash, a crypto mixer often used to obscure the trail of stolen funds.

Noones’ Response to the Hack

Notably, the hack occurred around the same time Noones announced maintenance. However, as ZachXBT pointed out, “no official statement was made about any security incident.” As of press time, Noones has not made any public statements on the matter.

About Noones and Its Founder

Noones was launched in 2023 by Ray Youssef, who previously co-founded Paxful, another well-known peer-to-peer crypto trading platform. Youssef envisioned Noones as a more community-driven alternative to Paxful, aiming to provide users with easier access to cryptocurrency and digital payments while avoiding some of the challenges he faced at Paxful.

Security Tips for Peer-to-Peer Marketplace Users

To protect themselves from potential security incidents, users of peer-to-peer marketplaces can take the following precautions:

  • Regularly monitor their accounts for suspicious activity
  • Use strong, unique passwords and enable two-factor authentication
  • Keep their software and systems up to date
  • Be cautious of phishing attempts and unverified links

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