{"id":445277,"date":"2024-09-25T18:00:56","date_gmt":"2024-09-25T17:00:56","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=445277"},"modified":"2024-09-25T16:12:55","modified_gmt":"2024-09-25T15:12:55","slug":"hacker-nearly-completes-laundering-230-million-stolen-from-wazirx","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/hacker-nearly-completes-laundering-230-million-stolen-from-wazirx\/","title":{"rendered":"Hacker nearly completes laundering $230 million stolen from WazirX"},"content":{"rendered":"

The hacker responsible for stealing $230 million from WazirX<\/a> in July has nearly finished laundering the funds, with just $6 million worth of Ethereum (ETH<\/a>) left, based on Arkham Intelligence<\/a> on-chain data<\/a>.<\/p>\n

Most of the stolen assets were moved through Tornado Cash, a service known for obscuring digital transactions.<\/p>\n

Funds laundered<\/h2>\n

The breach<\/a>, which compromised over 45% of the Indian exchange's reserves, involved a range of assets, including over $100 million in Shiba Inu (SHIB<\/a>) and $52 million in Ethereum taken from a compromised wallet.<\/p>\n

Arkham data shows the hacker has transferred over $50 million through Tornado Cash since August, intensifying activity in recent weeks. A recent transfer involved 3,792 ETH, approximately $10 million.<\/p>\n

Tornado Cash, a tool that helps mask wallet addresses, has become a common means for criminals to launder crypto. While the service itself is not illegal, its misuse in criminal schemes has drawn significant attention.<\/p>\n

Earlier this year, Tornado Cash developer Alexey Pertsev was convicted of money laundering in the Netherlands and sentenced to over five years in prison.<\/p>\n

Restructuring<\/h2>\n

Following the hack, WazirX entered a restructuring process in Singapore to manage its liabilities. Despite efforts to recover the stolen assets, the exchange has faced criticism for its crisis response and lack of transparency with users.<\/p>\n

Adding to the controversy, Binance, a former business partner of WazirX, clarified that it was not involved<\/a> in the hack and does not control or manage WazirX operations.<\/p>\n

The statement contradicted claims made by WazirX co-founder Nischal Shetty in August, further complicating the exchange's public relations challenges.<\/p>\n

With the majority of the stolen funds now laundered, WazirX continues to face hurdles in its recovery efforts, raising questions about the exchange's future and broader security concerns within the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

The hacker responsible for stealing $230 million from WazirX in July has nearly finished laundering the funds, with just $6 million worth of Ethereum (ETH) left, based on Arkham Intelligence on-chain data. Most of the stolen assets were moved through Tornado Cash, a service known for obscuring digital transactions. Funds laundered The breach, which compromised […]<\/p>\n","protected":false},"author":1250,"featured_media":445280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76799,107,39,16041],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nHacker nearly completes laundering $230 million stolen from WazirX<\/title>\n<meta name=\"description\" content=\"Based on Arkham Intelligence data, the WazirX hacker has just $6 million worth of Ethereum left to launder.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/hacker-nearly-completes-laundering-230-million-stolen-from-wazirx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hacker nearly completes laundering $230 million stolen from WazirX\" \/>\n<meta property=\"og:description\" content=\"Based on Arkham Intelligence data, the WazirX hacker has just $6 million worth of Ethereum left to launder.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/hacker-nearly-completes-laundering-230-million-stolen-from-wazirx\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-25T17:00:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-25T15:12:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/09\/wazirx-hack-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Assad Jafri\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Assad Jafri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/hacker-nearly-completes-laundering-230-million-stolen-from-wazirx\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/hacker-nearly-completes-laundering-230-million-stolen-from-wazirx\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/#person\",\"name\":\"Assad Jafri\",\"url\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/cs-syed.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/cs-syed.jpg\",\"caption\":\"Assad Jafri\"},\"jobTitle\":\"Editor & Reporter\",\"description\":\"AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. 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