WazirX hacker sends 6.5M ETH to Tornado Cash during INR withdrawal
As the second INR withdrawal began, WazirX Hacker sent $6.5M ETH to Tornado Cash The July 18th hack stole $230M, causing a trading halt and halt. WazirX is battling legal issues and ongoing investigations.
The WazirX hacker transferred $6.5 million worth of stolen Ethereum (ETH) to Tornado Cash.
The transfer comes as WazirX, an Indian cryptocurrency exchange hacked in July 2024, begins its second phase of Indian Rupee (INR) currency issuance.
📢 INR Withdrawal Phase 2 Starts Early!
Starting today, all eligible users can withdraw their INR balances up to the full 66% limit.
Originally scheduled for September 9th, we've bumped this up to provide faster access. Thank you for your continued patience and support… pic.twitter.com/6I3BA220b2
— WazirX: India's Bitcoin Exchange (@WazirXIndia) September 3, 2024
The first phase of partial INR withdrawal started in 2018. It was August 26th and was originally scheduled to last until September 8th.
WazirX hacker moved 2.6K ETH through Tornado Cash
Blockchain security firm Syvers reports that the hacker responsible for the WazirX breach transferred 2,600 ETH worth an estimated $6.5 million in Tornado Cash.
🚨ALERT🚨The @WazirXIndia hacker has started transferring stolen funds to @TornadoCash on
In the year This event, reported by the @Cyvers_ system on July 18, 2024, resulted in a loss of $235M.
So far, the attacker has moved 2,600 $ETH $6.5M into Tornado Cash!… pic.twitter.com/jIlx9RND2y
— 🚨 CyversAlerts 🚨 (@CyversAlerts) September 2, 2024
Tornado Cash, sanctioned by the US government, is known for its role in hiding the origin of digital assets and making it difficult for law enforcement to find and trace stolen funds. The hacker's move highlights the sophisticated tactics cybercriminals use to evade detection.
In the year The Wazirx hack, which occurred on July 18, 2024, stole more than $230 million from the exchange's multi-signature wallet. The breach significantly affected WazirX's operational stability, affecting its ability to secure collateral on its assets.
Following the attack, trading was halted as part of a partial recovery focused on recovery. Reports suggest that the loss may be social among users, which may prevent some from getting the full value of their cryptocurrency holdings.
WazirX efforts to restore
First, the second phase of INR launched today, which will allow users to withdraw up to 66% of their INR balance, will open on September 9, but the exchange has decided to give users access to their funds sooner. .
The decision is part of a botched plan to restore financial operations following the massive hack.
WazirX is engaged in legal proceedings in Singapore as part of its restructuring efforts. The exchange's approach involves working with law enforcement agencies to resolve the aftermath of the attack and seek justice.
Despite seeking a 30-day injunction from Singapore's High Court to restructure its operations and resolve user outages, the exchange was sued by CoinSwitch for $9.7M.
The company faces challenges in fully restoring INR withdrawals due to ongoing investigations, with some of its rupee-linked balances not accessible until the end of August.
As the situation evolves, both the recovery of the stolen funds and the wider impact on WazirX users are concerns.
