International marketplace Noones App has witnessed a surge in outgoing transactions, signaling a breach of its platform. According to blockchain sleuth ZachXBT, the transfers from the marketplace, which accepts crypto, point to a hack. He noted that the funds were later moved and eventually mixed through Tornado Cash.
According to ZachXBT, the day of the hack coincided with the platform’s wallet maintenance, noting that about $7.9 million was stolen. While the platform said it only affected its Solana bridge, he noted that it went beyond that. The stolen funds have been mixed, and can no longer be traced to new wallets. Meanwhile, ZachXBT has previously watched Paxful and Noones App as possible gateways for mixing funds for the notorious group Lazarus.
Noones App team confirms Solana bridge exploit
Noones App founder Ray Youssef announced the Solana bridge exploit, weeks after investigations were carried out. The team claimed that funds are safe, despite glaring evidence of tokens being moved across other chains. Noones App provides users with fintech tools and crypto deposits, allowing minimal verification for gift cards and crypto trading.
The app was launched around 2023, gaining flight due to its free, and no-kyc for crypto swaps. Youssef launched the app after his previous project, Paxful, ran into regulatory issues in the United States. However, Paxful still maintains higher operational traffic compared toNoones App due to its legacy status.
The app has seen more than 100k downloads, with users moving to it because of its resemblance to Paxful. The app has also taken to X to boost its market, focusing on emerging markets. Youssef has noted that the app is positioned to provide financial access to the unbanked. The app grew 300% in daily downloads this month, coming off a big boost in Q4 2024. Noones has seen huge patronage in the United States, especially with its $15k reward from a recent competition boosting interest.