Address linked to 7,400 ETH from Tornado Cash triggers $2.15M CAKE and THE liquidations on Venus

An address that received 7,400 ETH from Tornado Cash via 0x7a7...234 allegedly engineered collateral liquidations involving CAKE and THE on Venus, resulting in approximately $2.15 million in liquidation losses (1.18 million CAKE and 1.84 million THE), onchain analyst Yujin reports. The address deposited the 7,400 ETH into Aave, borrowed 9.92 million U (in USDT, DAI and USDC), and funneled the funds through multiple wallets to buy THE. Around 8 PM, the address pushed up THE's price on a CEX before depositing 36.1 million THE into Venus across two wallets to borrow BTC, BNB and CAKE. About 40 minutes later, THE's price dropped sharply, triggering full liquidation of collateral in both wallets on Venus, while the address extracted around $5.07 million from Venus (2,172 BNB, 1.516 million CAKE and 20 BTC).