WazirX hacker consolidates $57M ETH into new wallets

Zoltan Vardai14 hours agoWazirX hacker consolidates $57M ETH into new walletsThe hacker behind the $230 million WazirX hack has moved another $57 million of the stolen funds as the exchange doubles down on its bug bounty efforts.1997 Total views23 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe WazirX hacker has transferred $57 million worth of the stolen funds to two new cryptocurrency addresses in the latest onchain movement of the stolen funds.

The hacker has transferred 16,350 Ether (ETH) worth over $57 million to two new crypto wallets in the latest attempt to funnel the stolen assets.

The lion’s share (over $54 million) was sent to address “0x58d,” according to a July 22 X post by blockchain security firm PeckShield.WazirX hacker consolidates $57 million. Source: PeckShield

The unknown hacker stole over $230 million from WazirX, an Indian cryptocurrency exchange, in the second-largest cryptocurrency hack of 2024 so far. The onchain movement of the stolen funds could uncover key details about the hacker’s identity.

Related:WazirX hacker funnels $149M, Hamster Kombat users face phishing attacks: Finance RedefinedWazirX doubles bounty program

To help track the stolen funds, WazirX has launched two bounty programs for onchain investigators.

The first one, the track and freeze bounty, offers up to $10,000 of Tether (USDT) for those who can “provide actionable intelligence leading to the freezing of the stolen funds.”

The second one, the white hat recovery bounty, rewards ethical hackers with up to 10% of the amount they can help recover.

The white hat bounty’s upper limit was doubled to $23 million, according to a WazirX spokesperson, who told Cointelegraph:“Bounty doubled to $23 million after community feedback.”

So far, 54 white hat hackers have registered for the WazirX recovery program, the spokesperson added.

Malicious actors often funnel the stolen funds into Ether to prepare them for laundering since the ETH token has no built-in means of freezing it.

This is likely why the WazirX hacker converted $149 million worth of altcoins into Ether last week.

Related:Can ETH price crack $3.5K? Ethereum ETF debut will precede new highs, analysts sayA tough week for crypto following WazirX hack and Rho Markets exploit

The high-profile $230 million hack occurred during a particularly bad week for the cryptocurrency sector, which was plagued by malicious activities.

Shortly after the WazirX theft, Rho Markets was exploited for nearly $8 million worth of digital assets after an unauthorized individual accessed the protocol’s blockchain oracle.

In a fortunate turn of events, the Scroll-based liquidity layer and lending protocol announced that all the funds were returned, and Rho Markets was back online. The protocol also revealed that the loss came from a maximal extractable value bot that profited from a price oracle misconfiguration and subsequently returned all the funds.$3 billion stolen in hacks — Why are crypto crimes surging? Source:Cointelegraph

Lastly, players of the viral Telegram-based clicker game Hamster Kombat were also targeted by phishing attacks and fake airdrops, which attempted to steal player credentials and cryptocurrency wallets.

Magazine:WazirX hackers prepped 8 days before attack, swindlers fake fiat for USDT: Asia Express# Blockchain# Cryptocurrencies# Altcoin# India# Bitcoin Scams# Scams# Hacks# DeFiAdd reaction