The WazirX hacker, responsible for a $230 million exploit, recently moved another 5,000 Ethereum (ETH) tokens. The latest transfer follows a similar pattern of 5,000 ETH stash shifted repeatedly this week. Moreover, the Indian crypto exchange’s exploiter has started laundering via Tornado Cash
Latest Transactions of WazirX Exploiter
The latest transfer, worth approximately $12 million of Ethereum, was made to a new address (0x46b9…) on September 19, Thursday. This marks the latest in a string of movements following an earlier transfer of 5,000 ETH to another address, 0x5990…, valued at $11.6 million.
🚨UPDATE🚨@WazirXIndia hacker just transferred another 5K $ETH (~$12M) to a new address: https://t.co/BDjfNt0Keb and already started depositing to @TornadoCash
Want to keep your company off our alerts radar? Learn how to secure your assets: Book a Demo 🚀… https://t.co/5G3lerRnbX pic.twitter.com/Z9Su2tkWsR— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 19, 2024
According to Cyvers Alert, a blockchain security service, the new movement signals a key phase in the hacker’s laundering process, with $241,213 already deposited into Tornado Cash, a privacy tool that conceals transaction trails on the Ethereum blockchain.
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Earlier this week, the WazirX hacker transferred another 5,000 ETH, worth $11.4 million at the time, to a different wallet. The entire Ethereum reserve was then laundered through the infamous crypto mixer, leaving just 0.45 ETH remaining in the original address.
The frequent use of Tornado Cash by the hacker is a part of an attempt to hide their activities. This is because the crypto mixer is known for enabling users to hide the origin of their crypto assets by mixing funds with others in a pool.
Ethereum Price Surges
This latest $12 million shift coincided with Ethereum price surge above $2,400 following a key interest rate cut by the U.S. Federal Reserve. On Wednesday, September 18, the Federal Reserve announced a 50-basis-point reduction in interest rates. This marked the first cut of since 2020.
The decision has had an immediate effect on global financial markets, with Ether being one of the key beneficiaries of the broader risk-on sentiment. The Fed’s rate cut aims to reduce borrowing costs, impacting everything from mortgages to business loans.
The significant rise in Ethereum price likely contributed to the increased value of the WazirX exploiter’s latest transfer. At press time, the ETH price gained 4.94% to 2,430.18 on Thursday.
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