APP
Reported by The Block: The entity behind the WazirX hack transferred 2,600 ETH worth $6.5 million to the sanctioned mixer Tornado Cash to launder the funds.
The hacking entity responsible for the WazirX exploit appears to have transferred 2,600 ETH ($6.5 million) to the U.S.-sanctioned cryptocurrency mixer Tornado Cash to launder the stolen funds, security firm PeckShield noted.
Sending funds to a mixer is a common tactic cybercriminals use to make it harder for law enforcement to track and recover stolen crypto.
On July 18, 2024, cryptocurrency exchange WazirX reported a major cyber attack targeting its multi-signature wallet, resulting in a loss exceeding $230 million.
The exchange stated that this incident has impacted WazirX’s ability to maintain balanced collaterals against its assets.
Withdrawals remain frozen, and trading has been paused since July 21 as the team focuses on partial recovery, with losses expected to be socialized among users. According to reports, the restructuring efforts may result in users not receiving the total value of their cryptocurrency held on the platform during the attack.
This attack is believed to be the work of the North Korean Lazarus Group, a notorious state-sponsored hacking organization known for executing high-profile exploits, including a $600 million hack on the Ronin sidechain in 2022.
- Last:
- Next:
