Just three days after transferring 2,600 ETH on 2nd September, the WazirX hacker has resurfaced by making a further 5,000 ETH deposit to an unknown wallet before moving 1,600 ETH (approximately $3.85 million) to Tornado Cash.
As reported by MistTrack, the new wallet, which was first seen at 07:39 am UTC on 5th September, received 5,000 ETH from the wallet – 0x2D…968, known as the WazirX hacker.
A few hours ago, the @WazirXIndia exploiter started depositing funds into @TornadoCash.At the time of posting, 1600 ETH or equivalent of $3.85M has been deposited and the amount will mostly likely continue to climb afterwards. The hackers address:… pic.twitter.com/quVKGLah35
— MistTrack (@MistTrack_io) September 5, 2024
Recent WazirX Hacker Activity
On 2nd September, the WazirX Hacker made 26 transactions to a crypto mixer, Tornado Cash. The hacker made the transactions in batches of 100 ETH, totaling up to 2,600 ETH, which was priced at $6.5 million then.
The hacker has further transferred 5,000 ETH valued at around $12 million to a new wallet. This transaction came before a further transfer to Tornado Cash.
Upon this writing, the WazirX hacker has used their new wallet to make 16 transactions to Tornado Cash, totaling up to 1,600 ETH. According to experts, the hacker seems to be using the same strategy to transfer the stolen cryptocurrencies – in batches of 100 ETH.
However, the reason behind making these transfers in batches of 100 ETH is not known to the public. After the recent wallet activity, the wallet still holds 54.156K ETH, approximately $130.27 million in value.
The @WazirXIndia hacker resurfaces again 3 days after moving funds to @TornadoCash The hacker's wallet transferred 5K $ETH (~$12.08M) to an anonymous wallet — "0x2D2". After this week's transactions, the wallet currently holds 54.156K ETH (~$130.27M). pic.twitter.com/Fin0hhzuaW
— TheNewsCrypto (@The_NewsCrypto) September 5, 2024
What Happened Before the Recent Transactions?
After the 18 July 2024 hacking that saw the Indian Exchange lose $235 million, WazirX announced on 23rd August 2024 that it would be adopting the Singapore Scheme of Arrangement. This scheme is a restructuring program under Singapore’s insolvency laws and regulations.
Through the blog post announcement, WazirX stated that it would lift the suspension on the withdrawal of the INR balances on 26 August 2024. However, the exchange further mentioned that it would allow the withdrawals in phases.
WazirX went further to revise the INR withdrawal fees from INR 25 to INR 10, marking a 60% withdrawal fee reduction.
Announcement by WazirX to revise withdrawal fees (Image Source: WazirX Blog)
The exchange further stated that it would freeze 34% of the balances on the exchange due to ongoing disputes with law enforcement agencies (LEAs), a third-party agency helping with the investigation.
The announcement meant that all eligible users could withdraw only 66% of their balances from the exchange. However, the withdrawals were to be done in two phases: half of the 66% as from 26 August 2024 and the other half from 9-12 September 2024.
WazirX announcement of the withdrawal of the 66% balances (Image Source: WazirX Blog)
A Call to Keep Your Cryptos Secure
Based on recent activities by the WazirX hacker, every crypto holder should learn how to keep their cryptocurrencies safe. Choosing an exchange with well-established security measures is vital and could help secure your digital assets.
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