- The North Korean entity responsible for the hack on India’s WazirX crypto exchange moved over $11 million in stolen ether (ETH) to Tornado Cash early Monday, aiming to mask the transaction trail.The breach in July 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, with ongoing efforts to manage the fallout through restructuring.
Subsequently, the specified address dispatched approximately $1.2 million in tokens across five distinct transactions towards Tornado Cash.
Tornado Cash facilitates the swapping of cryptocurrency tokens, all while concealing the associated wallet addresses across multiple blockchains. Although the platform itself isn’t inherently malicious, it is often employed by crypto criminals to obscure a trail that might point back to the individuals transferring ill-gotten funds.
Last week’s $4 million transaction was followed by the moves we are seeing now, initially reported by CoinDesk. The hacker’s primary account contains approximately $107 million in assorted tokens, with around $100 million of that being ether.
More than 45% of the overall reserves mentioned in the June 2024 report were found to be stolen funds, leading the exchange to seek a restructuring process in order to address its outstanding debts.
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2024-09-09 12:43