WazirX hacker launders $10 million through Tornado Cash
The hacker responsible for stealing over $235 million from the Indian crypto exchange WazirX has transferred around $10 million through sanctioned Tornado Cash in the past 24 hours, according to blockchain security firm Cyvers.
In a Sept. 5 message to CryptoSlate, Cyvers reported that the hacker had begun moving assets the previous day. So far, $10 million in Ethereum (ETH) has been laundered through Tornado Cash, including deposits of about $2 million in ETH.
Cyvers also noted that the hacker moved approximately 5,000 ETH (valued at $12 million) to a new wallet address, 0x2968.
Market analysts observed that the WazirX hackers laundering tactics resemble those employed by the North Korea-backed Lazarus Group. This group is reportedly behind more than $2 billion in crypto thefts and allegedly funds North Korean government activities.
Lazarus Group often uses Tornado Cash to obscure its transactions as part of a sophisticated laundering process, which sometimes involves chain-hopping.
WazirX update
These laundering activities come as WazirX announced an early withdrawal window for users to access 66% of their Indian rupee (INR) token balances. Initially set for Sept. 9, the exchange moved the withdrawal date forward, allowing users to access funds sooner.
On Sept. 3, Nischal Shetty, the co-founder of the Indian crypto trading platform, stated:
Phase 2 of INR withdrawals is live ahead of schedule. Were working tirelessly to deliver even faster results. Our objective is to be ahead of schedule for all the timelines we share. We will try our level best to make it happen.
However, some users expressed dissatisfaction with partial access and questioned when crypto withdrawals would resume. WazirXs legal team has reportedly indicated that users might recover only 55% to 57% of their crypto holdings.
Meanwhile, the exchange has since filed for restructuring in Singapore to address its liabilities.
The post WazirX hacker launders $10 million through Tornado Cash appeared first on CryptoSlate.
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Text source: CryptoSlate
