The hacker behind the $230 million WazirX exploit moved $57 million in stolen funds to two new cryptocurrency addresses.
WazirX has doubled its white hat bounty program to $23 million, incentivizing ethical hackers to help recover stolen funds.
The recent movement of the stolen funds could reveal important details about the hacker’s identity and methods, aiding the investigation.
The responsible party behind the $230 million WazirX hack has transferred $57 million in stolen funds to two new cryptocurrency addresses.
Based on @zachxbt's feedback, we have increased the White Hat Recovery reward to 10%, i.e., up to $23 Million.We invite white hat hackers, blockchain forensics experts, and cybersecurity professionals from around the world to join this critical mission and protect the integrity… https://t.co/WasoyJT5UX
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) July 21, 2024
This move has triggered the exchange to double the size of the bounty program to $23 million. The hacker transferred 16,350 Ether (ETH), worth approximately $57 million.
The recent on-chain movement is a significant portion of the $230 million stolen from WazirX, India’s largest cryptocurrency exchange by volume. The incident is the second-largest cryptocurrency hack of 2024 to date. The transfer to new addresses may reveal vital details about the hacker’s identity and operations.
WazirX announced two bounty programs that aim to track and retrieve the stolen cash. The initial program rewards up to $10,000 in Tether USD (USDT) for actionable intelligence that leads to the freezing of stolen funds. The second is a white hat recovery bounty, which rewards ethical hackers up to 10% of any funds they help recover.
WazirX’s proactive actions demonstrate how security is becoming increasingly important in the cryptocurrency space. As digital assets gain popularity, exchanges have to emphasize strong security protocols to secure their customers. assets. The results of this investigation are likely to influence future security measures in the industry.
The transfer of $57 million in stolen cash by the WazirX hacker represents a step forward in the ongoing investigation. WazirX’s expanded bounty program demonstrates the exchange’s dedication to recovering stolen assets and improving security.
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