WazirX
Hacker behind $234-million WazirX crypto theft starts washing loot
Bengaluru/IBNS: The hacker behind India’s worst crypto hack has started laundering some of the $234 million stolen in the incident from the WazirX exchange, acting the same day the platform briefed on efforts to recover funds, reports Bloomberg.
According to reports, the hacker on Monday (Sept 2) moved 2,500 Ether tokens worth about $6.3 million to Tornado Cash — a sanctioned service that blurs the origin of crypto-assets — soon after the briefing led by Nischal Shetty, the Dubai-based founder of India's leading cryptocurrency exchange WazirX’s.
Arkham Intelligence, a blockchain intelligence firm, highlighted the flows, which underline the difficulty of recovering the digital assets.
Over 4 million users of WazirX have been impacted by a hack that threatens to erode confidence in domestic Indian crypto exchanges, which were already stunted by a transaction tax, according to reports.
While details about the vulnerability in July’s hack and the attacker’s identity remain unconfirmed, blockchain specialists Elliptic see a trail to hackers linked to North Korea, which uses cyberattacks to obtain foreign income, reports Bloomberg.
Zettai Pte, which operates the crypto assets of WazirX, has started restructuring proceedings in Singapore, as per reports.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
