WazirX Hacker Moves Another $11.7M Amidst Restructuring Plans
WazirX attacker has reportedly transferred an additional 5,000 ETH worth approximately $11.7 million to Tornado Cash in July. This latest transaction hints at efforts to launder the stolen funds. Earlier blockchain security firm PeckShield identified an address linked to the hackers. It sent 2600.1 ETH [worth roughly $6.5 million] to the privacy protocol Tornado Cash.
Tornado Cash is a popular privacy mixer, that allows users to hide the origin and destination of their transactions. By using this platform, the hackers are making it more difficult to trace the stolen funds. This transfer comes amidst WazirXs ongoing restructuring efforts following a major hack in July.
In an email to users, WazirX, a leading Indian cryptocurrency exchange, provided a critical update to users. The platform detailed upcoming events of the restructuring, including a session on the Moratorium Application scheduled for September 25, 2024, at 8:00 IST. The hearing will be conducted via Zoom, and creditors are encouraged to register and confirm their participation through the WazirX application.
As of now, the Singapore High Court is yet to issue a ruling on the cramdown proposal. However, WazirX has released a new poll for creditors to vote on the restructuring plan. The poll asks creditors to confirm the date they received a copy of the Moratorium Application and to indicate whether they support, oppose, or have no objection to the plan. WazirX emphasizes that creditor participation significantly impacts the courts decision-making. The survey will be available until September 21, 2024.
Second WazirX Townhall Meeting
The crypto exchange will hold a second town hall meeting on September 16th to provide a detailed explanation of the draft restructuring proposal. Creditors will have the opportunity to ask questions, which can be submitted beforehand through a Google Form that will be made available. The event will be streamed on YouTube, and creditors can participate in a live Q&A session.
Furthermore, WazirX has reiterated that all user crypto and fiat balances remain secure. The exchange emphasizes that the ongoing restructuring process aims to achieve a fair legal solution for all parties involved.
Read more: https://www.tronweekly.com/wazirx-hacker-amidst-restructuring-plans/
Text source: TronWeekly
