WazirX Hacker Moves Millions Worth of ETH via Tornado Cash: Arkham Research Insights
Background on WazirX Hack
The WazirX hack, which occurred in July, has left many questions unanswered regarding the hacker's identity. Latest findings from Arkham Research highlight that the perpetrator is actively moving the stolen funds through the controversial Tornado Cash. More than $230 million was initially stolen, with $6.5 million now traced to Tornado Cash.
Mechanisms of Tornado Cash
Tornado Cash acts as a mixer for cryptocurrencies, allowing users to obscure the source of their tokens by depositing them into a pool. This significantly complicates the tracking of transfers, making it a favored tool among cybercriminals. The hacker reportedly made 26 separate transactions to transfer $6.5 million worth of ETH in increments of 100 ETH.
Speculations on Hacker's Identity
Experts speculate that the hack may have connections to North Korea's infamous Lazarus Group. According to Nischal Shetty, co-founder of WazirX, while patterns suggest the involvement of this group, definitive proof remains elusive. In light of this, WazirX has entered a restructuring phase, filing for a moratorium to better assess its situation.
WazirX User Updates
As WazirX navigates its recovery, it has reopened INR withdrawals, urging users to withdraw a significant portion of their balances. The exchange is collaborating with authorities to trace the hacker.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.