The mysterious WazirX hacker behind one of the largest cryptocurrency thefts in recent history has resurfaced with a major new transfer. Spot On Chain reports that the hacker transferred 2,600 ETH, worth approximately $6.54 million, to Tornado Cash just 18 hours ago.
However, with 59,156 ETH, or about $148.8 million, spread across nine different wallet addresses, the hacker still has a large amount of funds.
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This latest transfer comes on the heels of the major security breach that hit WazirX at the end of July. The hack, which saw nearly a quarter of a billion dollars in various cryptocurrencies stolen from India's leading crypto exchange, sent ripples through the market.
The stolen funds have been actively traded for Ethereum, which has created a lot of selling pressure on various digital assets.
Source: Arkham Intelligence
One of the most notable transactions was the withdrawal of 5.4 trillion Shiba Inu (SHIB), which was valued at $102 million. This large sale had a major impact on SHIB's market value, causing the price of the token to drop nearly 8% at one point.
Breathing period
The ongoing movement of these stolen assets continues to impact the broader market, demonstrating the magnitude of the theft.
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In response to the breach, Zettai, the Singapore-based company behind WazirX, has asked the High Court of Singapore for a temporary stay on some of its obligations. If granted, this will give the company time to restructure its liabilities in the wake of the $230 million breach and work to reimburse users of the platform.
