SUMMARY
- Hacker linked to the $235 million theft from WazirX moved $6.5 million worth of stolen crypto through Tornado Cash.
- WazirX allows users to withdraw up to 66% of INR balances earlier than planned, originally set for September 9th.
- WazirX faces legal challenges in Singapore related to cryptocurrency withdrawals as part of its restructuring efforts.
A cryptocurrency wallet associated with the hacker behind the $235 million theft from Indian crypto exchange WazirX has transferred a substantial amount of stolen funds through Tornado Cash, a sanctioned cryptocurrency mixing service. According to blockchain analytics firm Cyvers, the hacker moved 2,600 Ether (ETH), valued at approximately $6.5 million at current market prices, in an apparent attempt to launder the stolen cryptocurrency.
Data from crypto tracking platform DeBank indicates that the hacker’s wallet held $6.7 million as of September 2nd. However, the wallet’s balance has been reduced to just $154,000 following 26 separate transfers of 100 ETH each to Tornado Cash within a span of one hour. This move comes amid WazirX‘s ongoing efforts to manage the fallout from the massive security breach that occurred on July 18th.
In a related development, WazirX announced it is accelerating the process for users to withdraw up to 66% of their Indian rupee-denominated balances, which was initially planned for September 9th. The decision to move the date forward was made to offer customers quicker access to their funds.
The exchange resumed Indian rupee withdrawals on August 26th, although it disclosed that 34% of rupee-denominated balances remain frozen due to ongoing law enforcement investigations. WazirX is also navigating legal challenges concerning cryptocurrency withdrawals as part of its restructuring process, which is being conducted in Singapore.
The exchange is focused on restoring normal operations while dealing with the ramifications of the hack and the subsequent legal issues related to its cryptocurrency transactions.
