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WazirX Hacker Transfers $23M in Stolen Assets to Tornado Cash – New Report

12 September 2024
in Crime, News
Reading Time: 3 mins read
105 4
Home News Crime

The hacker responsible for the July breach of Indian cryptocurrency exchange WazirX has moved approximately $23 million in stolen assets to Tornado Cash.

In an X post on Thursday, September 12, 2024, Cyvers Alerts reported that the hacker transferred 5,000 ETH (roughly $11.7 million) to a new address, with $4.7 million of that amount subsequently sent to Tornado Cash. Earlier in the week, Spot On Chain had revealed another transfer of 5,000 ETH to the same mixing tool. Cyvers had previously reported an additional transfer of 2,600 ETH, valued at $6.5 million, to Tornado Cash.

The hacker allegedly stole $230 million worth of cryptocurrencies from the exchange after breaching its wallets, according to blockchain analytics firm Lookonchain. Lookonchain reported, at the time, that the attacker’s wallet also sold 640.27 billion $PEPE tokens, worth approximately $7.6 million. Data from Etherscan also indicated that the hacker is actively liquidating the stolen assets through UniSwap.

While the exact method of the hack remains under investigation, a preliminary analysis by blockchain firm Elliptic suggests the potential involvement of hackers linked to North Korea.

Meanwhile, in response to the breach, India’s Bharat Web3 Association (BWA) has established two internal task forces to enhance cybersecurity and consumer protection measures. One task force is focused on improving cybersecurity protocols and solutions to prevent future breaches, while the other is addressing consumer protection guidelines.

BWA Chairman Dilip Chenoy confirmed that a full investigation is underway, with the association closely monitoring the situation and maintaining communication with WazirX and Liminal to review the incident. The BWA has requested a detailed forensic analysis, root cause evaluation, and an assessment of legal and remedial actions from both companies.

This incident underscores the ongoing challenges in cryptocurrency security and the need for robust protection measures in the rapidly evolving digital asset landscape.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

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Tags: Tornado CashwazirX
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Jewel Buddy

Jewel Buddy

Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.

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