WazirX Hacker Nears Completion of $230M Laundering, Only $6M in Ethereum Left

The hacker responsible for stealing $230 million from WazirX in July is close to finishing laundering the funds, with only $6 million left in Ethereum (ETH), according to the Arkham Intelligence chain.

Most of the stolen assets were transferred through Tornado Cash, a service known for disguising digital transactions.

The breach compromised over 45% of the Indian exchange’s reserves and involved various assets, including over $100 million in Shiba Inu (SHIB) and $52 million in Ethereum, taken from a compromised wallet. Arkham’s data reveals that the hacker has transferred over $50 million through Tornado Cash since August, with activity picking up in recent weeks.

Tornado Cash, a mixer that helps mask wallet addresses, has become a commonly used tool by criminals to launder cryptocurrency. While the service itself is not illegal, its misuse has sparked significant scrutiny.

Following the hacking attack, WazirX began a restructuring process in Singapore to address its liabilities. Despite efforts to recover stolen assets, the exchange has faced criticism for its response to the crisis and lack of transparency with users.

In addition to the controversy, Binance, a former business partner of WazirX, clarified that it was not involved in the hacking attack and does not control or manage WazirX’s operations. This statement contradicts claims made by WazirX co-founder Nishal Shetty in August, which complicated the exchange’s public relations challenges.