Hackers continue to launder money after $230 million attack on WazirX exchange.
Stolen funds from the $230 million WazirX hack in July are still being moved around.
Starting Monday night, hackers moved 15,000 Ethereum (ETH) in three parts. As of Thursday morning, another 5,000 Ethereum was sent to Tornado Cash.
According to data from on-chain analytics platform Arkham, the hackers still have more than $50 million worth of tokens in their wallets, with the majority of that amount being Ethereum.
Tornado Cash is known for being a service that allows crypto users to hide their wallet addresses when transferring tokens. While it is not a malicious platform itself, it is often used by malicious actors to launder stolen funds.
In July, one of WazirX’s multi-signature wallets was hacked due to a security vulnerability, resulting in the theft of various assets including over $100 million worth of Shiba Inu (SHIB) and $52 million worth of ether.
This attack accounted for more than 45% of the total reserves stated by the exchange in its June 2024 report, and since then the exchange has entered a restructuring process in order to clear its liabilities.
WazirX founder Nischal Shetty has changed the direction of the accusations several times during the restructuring process. He initially suggested that the attack was the result of an error by Liminal, which was handling the custody of the assets, but Liminal has denied this claim.
Binance responded to the allegations
In late August, Shetty claimed that the majority of funds belonging to WazirX’s parent company, Zettai Labs, were held by Binance, thus limiting its ability to refund customers.
However, Binance said in a statement that WazirX and its founder Shetty provided false information about their relationship with the exchange. “We never owned, controlled or managed WazirX, nor did we do so before, during or after the July 2024 attack,” Binance said.
Binance also stressed that Shetty was trying to evade responsibility and that the WazirX team should be held accountable for the loss of user funds.
Stay tuned for new information.
