The mysterious WazirX hacker behind one of the largest cryptocurrency thefts in recent history has resurfaced with a major new transfer. Spot On Chain reports that the hacker transferred 2,600 ETH, worth approximately $6.54 million, to Tornado Cash just 18 hours ago.
However, with 59,156 ETH, or about $148.8 million, spread across nine different wallet addresses, the hacker still has a large amount of funds.
This latest transfer comes on the heels of the major security breach that hit WazirX at the end of July. The hack, which saw nearly a quarter of a billion dollars in various cryptocurrencies stolen from India’s leading crypto exchange, sent ripples through the market.
The stolen funds have been actively traded for Ethereum, which has created a lot of selling pressure on various digital assets.
One significant event was the removal of approximately 5.4 trillion Shiba Inu (SHIB), worth around $102 million. This substantial sale significantly influenced the market value of SHIB, leading the price of the token to plummet by almost 8% at its lowest point.
Breathing period
The persistent transfer of these pilfered resources is still causing ripples throughout the entire market, underscoring the vastness of the heist.
In reaction to the security incident resulting in a loss of $230 million, WazirX’s parent company Zettai has requested the Singapore High Court for a brief halt on specific responsibilities they have. If approved, this pause will allow the company to reorganize its debts following the breach and make efforts to refund affected users on their platform.
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2024-09-03 15:28