Tornado Cash

Tornado

WazirX

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<a style="color: #0000ff;" href="https://twitter.com/CyversAlerts/status/1834106146061164691?t=J2brhOAoeJ0QtaeN9T_sqQ&amp;s=19" rel="noopener noreferrer nofollow"> reported</a> 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<a href="https://twitter.com/spotonchain/status/1833407741509177617?t=ncpbQa0XMaHhwz5fJ0vbYg&amp;s=19" rel="noopener noreferrer nofollow"> revealed</a> another transfer of 5,000 ETH to the same mixing tool. Cyvers had previously<a style="color: #0000ff;" href="https://twitter.com/CyversAlerts/status/1830699571166523646?t=OSYmv7HzyNW4oWsr4c-IVA&amp;s=19" rel="noopener noreferrer nofollow"> reported</a> an additional transfer of 2,600 ETH, valued at $6.5 million, to Tornado Cash.
The hacker<a href="https://defi-planet.com/2024/07/wazirx-suspends-withdrawals-following-230-million-multisig-wallet-breach/#google_vignette" rel="noopener noreferrer nofollow"> allegedly</a> stole $230 million worth of cryptocurrencies from the exchange after breaching its wallets, according to blockchain analytics firm Lookonchain. Lookonchain<a href="https://twitter.com/lookonchain/status/1813842443483377684?t=WCFsLkinJP_6pJXTdGXhng&amp;s=19" rel="noopener noreferrer nofollow"> reported</a>, at the time, that the attacker’s wallet also sold 640.27 billion $PEPE tokens, worth approximately $7.6 million.<a href="https://etherscan.io/address/0x35febc10112302e0d69f35f42cce85816f8745ca#tokentxns" rel="noopener noreferrer nofollow"> Data</a> 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<a href="https://defi-planet.com/2024/07/indias-web3-alliance-ramps-up-cybersecurity-measures-following-wazirx-hack/" rel="noopener noreferrer nofollow"> established</a> 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.
&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
The post <a href="https://defi-planet.com/2024/09/wazirx-hacker-transfers-23m-in-stolen-assets-to-tornado-cash-new-report/" rel="noopener noreferrer nofollow">WazirX Hacker Transfers $23M in Stolen Assets to Tornado Cash – New Report</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

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

DeFi Planet

Other articles published on Sep 12, 2024

India’s FIU to Review Resumption of Top Crypto Exchanges

Vitalik Buterin Introduces Stricter Standards for Layer-2 Solutions

DTX Exchange Teases All-In-One Wallet Launch With SOL and LINK Holders Instantly Moving Funds

Vega Protocol to Wind Down Vega Blockchain Operations, New Project Underway

Saylor: Bitcoin’s Liquidity is Key, Predicts $13M Price in 21 Years

3 Reasons Why Grayscale’s Launch of XRP Trust is Huge for XRP Price

Join our free newsletter for daily crypto updates!