WazirX Hacker Transfers $23m to Tornado Cash
The recent actions of the WazirX hacker have sparked concern in the crypto community, as approximately $23m in cryptocurrencies has been transferred to Tornado Cash following the breach in July that resulted in $234m being stolen from the exchange.
Recent reports from Cyvers Alerts highlighted that the hacker moved 5,000 ETH, equivalent to around $11.7m, to a new address, with $4.7m subsequently sent to Tornado Cash.
This week, Spot On Chain also revealed that the hacker conducted a transfer of 5,000 ETH, valued at $11.7m, to the mixing tool. Earlier, Cyvers reported that the hacker had already moved 2,600 ETH, totaling $6.5m, to the same platform.
WazirX Hacker Converted Most Stolen Assets to ETH
After the hack in July, it was observed by Lookonchain that the hacker had converted the majority of the stolen assets into ether (ETH). As of Thursday, the hacker's wallet contained $95.3m in cryptocurrency, with $92.3m specifically in ETH.
While the exact method of the hack is still being investigated, preliminary analysis from blockchain firm Elliptic suggests the potential involvement of North Korean-linked hackers in the incident.
Hacker Uses Tornado Cash to Obscure Stolen crypto Trail
By transferring funds to Tornado Cash, the hacker has shown a deliberate effort to sever the connection between the sender and receiver in cryptocurrency transactions. This strategic move aims to disguise the origin and destination of the stolen assets, making it significantly challenging to trace them. The anonymity provided by Tornado Cash aids in avoiding detection and evading legal repercussions.
Despite its contentious reputation, particularly following US Treasury sanctions, Tornado Cash continues to operate in various regions. Notably, the individual behind the Poloniex exchange heist, which appropriated over $100m, funneled $76m through Tornado Cash earlier this year.
