As a seasoned researcher with years of experience tracking cybercriminal activity in the cryptocurrency space, I must admit that the latest moves by the WazirX Hacker have left me both intrigued and alarmed. The use of privacy-focused platforms like Tornado Cash to launder such massive amounts of stolen Ethereum is a testament to the sophistication and adaptability of these actors.
The WazirX Hacker has again caught attention by shifting about 10,000 Ether (worth roughly $23.3 million) within a 24-hour timeframe. Half of this amount was sent to Tornado Cash, while the other half was moved to a fresh, never-before-used Ethereum wallet, making it difficult to trace the funds.
WazirX Hacker Moves Another 10,000 ETH
In a recent development that has rattled the crypto community, the WazirX Hacker has moved an additional 10,000 Ethereum, causing further uncertainty in the market. This movement includes 5,000 ETH sent to the privacy-focused Tornado Cash, making the funds nearly untraceable.
Half of it was moved to a fresh Ethereum account, with the identity of the owner remaining unclear. This action has ignited worries about possible future disturbances within the cryptocurrency market.
The WazirX attacker won’t stop laundering stolen $ETH!
Over the last day, the culprit transferred approximately 10,000 ETH (equivalent to around 23.3 million dollars), which included:
Total laundered: 12.6K $ETH ($30.13M) in…
— Spot On Chain (@spotonchain) September 10, 2024
Additionally, this recent transaction aligns with a recurring pattern in cryptocurrency transfers linked to the hacker, who is currently being scrutinized due to a significant cyberattack on one of India’s prominent cryptocurrency trading platforms.
The latest transaction aligns with a broader series of actions taken by the WazirX Hacker, who has transferred a combined total of around 12,600 ETH, equivalent to roughly $30.13 million, over the past eight days. Yesterday, it was reported by CoinGape that this hacker moved 5000 ETH, worth more than $11 million, using Tornado Cash, sparking worries about crypto security.
Furthermore, this recent action boosts the hacker’s Ethereum possession to approximately 49,100 ETH, which is roughly equivalent to $115 million. The ongoing probe focuses on tracing these financial exchanges.
Market Impact and Security Concerns
As a crypto investor, I’ve noticed an uptick in market volatility following the news about the WazirX Hacker’s recent transactions. This seems to be particularly affecting the Ethereum network, where prices are fluctuating more than usual.
Furthermore, the recurring security lapses at WazirX have sparked demands for improved safety protocols across cryptocurrency platforms worldwide. The industry’s professionals are urging for stronger protective mechanisms to avoid such occurrences in the time ahead.
Lately, it’s been revealed that there was a substantial 45% jump in cryptocurrency-related fraud cases last year, leading to a staggering $5.6 billion in losses. This surge in incidents, primarily due to investment scams, highlights the growing danger within the crypto market.
Ongoing Investigations and Regulatory Response
Investigators are working diligently to uncover the details of the security incident, aiming to discover those responsible for a significant heist. The intricate methods employed to conceal the misappropriated assets have presented challenges for law enforcement, making it harder to achieve a just resolution.
In reaction to recent cyber attacks on cryptocurrencies and the resulting actions by crypto thieves, there is discussion among regulators and other involved parties about implementing more stringent rules. Meanwhile, Tether and TRON have joined forces today in a collaborative effort aimed at curbing crypto-related crimes through the establishment of the T3 Financial Crime Unit.
Additionally, these advancements are taking place as rumors circulate about a potential rise in compliance measures this month. The Chief Legal Officer of VariantFund has highlighted this, suggesting that many regulatory bodies such as the SEC and Commodity Futures Trading Commission (CFTC) will conclude their fiscal year on September 30, which may lead to an increase in enforcement activities.
This set of rules is designed to prohibit abusive use of services such as Tornado Cash, known for their involvement in illicit money transactions.
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD PHP PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- USD COP PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- TON PREDICTION. TON cryptocurrency
- Strongest Magic Types In Fairy Tail
- AAVE PREDICTION. AAVE cryptocurrency
- ENA PREDICTION. ENA cryptocurrency
- OSMO PREDICTION. OSMO cryptocurrency
2024-09-10 18:28