WazirX

The hackers responsible for the massive breach of Indian cryptocurrency exchange WazirX in July are reportedly close to laundering the stolen funds, estimated to be worth over ₹2,000 crore. Once all the funds are laundered the chances of recovering funds back will reduce greatly.&nbsp; 
The hackers have continuously transferred the stolen funds in batches to a new address and then to the well known crypto mixer tornado cash. At present wallet holding funds stolen from WazirX, is down to only $6 million worth of ether (ETH). 
Blockchain data from Arkham, show a clear timeline of how hackers transferred over 400 crore (approx $50 million) worth of tokens in August and the remaining amount in September. 
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 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXevRSPxRWEfgi0gdRT9WiM9HlYE6Bh8TZoArOHNOLyYSY4xg6osUSGRLmFw36XuS8omgqyYPoFEdIO-OcCPbvlNZIQbZqnCH77xZ6gW29uGWfmphJglYXyuEMUiRyYaYBmrQQnphN9h2rC7096IeA2Rk_QC?key=fT3gzUWVuGoWnbkZIEeVSw" alt="Token Balance History">
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The stolen funds accounted for over 45% of the total reserves cited by the exchange in a June 2024 report. The exchange has since filed for a restructuring process in Singapore to clear its liabilities. 
Amidst this, Binance, which has had a contentious relationship with WazirX, asserts&nbsp; that it should not be involved in this case emphasizing that it does not control or operate WazirX. Binance even <a href="https://www.cryptotimes.io/2024/09/25/not-our-circus-not-our-monkeysbinance-to-wazirx-user-asking-rs-83-cr/" target="_blank" rel="noreferrer noopener">responded to a user</a> claiming 83 cr from them with “Not Our Circus, Not Our Monkeys”&nbsp; 
That differs from what founder Nischal Shetty stated on X in August. Who will pay wazirx users&nbsp;is still a 2000 cr question. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/09/24/how-hackers-use-malicious-smart-contracts-to-steal-crypto-insights-from-wazirx-hacks/" target="_blank" rel="noreferrer noopener">How Hackers Use Malicious Smart Contracts to Steal Crypto: Insights from WazirX Hack</a> 
</blockquote>

WazirX Hacker ready to vanish with 2000 crores of user funds

The Crypto Times

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