Hacker behind $234-million WazirX crypto theft starts washing loot

-, Sep 04, 2024, India Blooms News Service40

Bengaluru/IBNS: The hacker behind Indias 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 Indias leading cryptocurrency exchange WazirXs.

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 Julys hack and the attackers 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.