In a new development regarding the security breach of the “WazirX” trading platform, the hacker responsible for the theft has transferred more than $23 million worth of Ethereum (ETH) in the past 24 hours.
The event comes as the platform prepares for a restructuring that could see 55-57% of stolen assets recovered for affected users.
According to Cyvers Alerts, on September 10, the hacker transferred 5,000 Ethereum units, worth an estimated $11.7 million, to a new address.
This transaction was preceded by another on September 9, where 5,000 ETH, worth $11.5 million, were transferred to another address.
Thus, the total amount transferred within 24 hours amounts to approximately $23 million.
This money is likely headed to Tornado Cash, a crypto service that relies on anonymity technologies and allows users to hide the trail of assets on different blockchain networks.
The attacker began using the crypto mixer on September 3. Although the service is illegal in the United States, it is commonly used by crypto criminals to hide stolen cryptocurrencies.
Arkham data indicates that the hacker previously transferred approximately $4 million worth of Ethereum to the crypto mixer.
The address associated with the hacker still contains over $109 million in cryptocurrency, including $103 million in Ethereum.
As part of its efforts to achieve financial stability, WazirX is seeking to attract a strategic investor, known as a “white knight,” to inject capital and support the company in exploring new partnerships.
The platform also aims to distribute the remaining digital currencies to users proportionally, which enhances the chances of greater recovery of assets.
