-
The North Korean organization responsible for hacking Indian cryptocurrency exchange WazirX transferred more than $11 million in stolen ether (ETH) to Tornado Cash on Monday morning in an attempt to hide the transaction.
-
The July hack resulted in the loss of over $100 million in SHIB, $52 million in ETH, and other assets, representing a significant portion of WazirX’s reserves. Efforts to manage the fallout through restructuring are ongoing.
The North Korean organization behind India’s largest crypto hack transferred $11 million in stolen ether (ETH) on Monday morning in the latest batch of transfers to mixing service Tornado Cash.
Wallet data is tracked by Arkham shows that more than 5,000 ETH, worth just over $11 million at current prices, were moved to a new address at 07:19 UTC following the July attack on cryptocurrency exchange WazirX.
The $1.2 million in tokens from this address were then sent to Tornado Cash via five different transfers.
Tornado Cash allows cryptocurrency users to exchange tokens by masking wallet addresses on different blockchains. The service itself is not nefarious, but is commonly used by crypto criminals to clean up online traces that could lead to the identification of those moving stolen funds.
The moves follow a $4 million transfer last week that was first reported by CoinDesk. hacker’s main address holds over $107 million worth of various tokens, most of which is $100 million worth of Ether.
In July, WazirX suffered a data leak in one of its multi-signature wallets, resulting in the withdrawal of over $100 million in Shiba Inu (SHIB) tokens and $52 million in Ether, among other assets, from the exchange.
The stolen funds accounted for more than 45% of the total reserves disclosed by the exchange in its June 2024 report, and the exchange has since filed for restructuring proceedings to pay off the liabilities.
