The post WazirX Recovery Impacted as Hackers Keep Sending Ethereum Through Tornado Cash appeared on BitcoinEthereumNews.com.

The WazirX crypto exchange hackers have nearly completed their efforts to launder the $230 million haul through coin mixer Tornado Cash, throwing a wrench into the efforts to recover funds for affected users. Hackers have moved 15,000 ETH (nearly $40 million today) since Monday night across scores of transactions. The development followed the High Court of Singapore granting the Indian crypto exchange WazirX a four-month moratorium to restructure its liabilities following the midsummer hack of more than $230 million. Last week, the wallet holding the funds sent some $33 million worth of Ethereum to Tornado Cash. Since then, the wallet has continued to move funds to other wallets, in many cases then continuing to run the coins through Tornado Cash, which makes them more difficult to track. Arkham Intelligence data shows that the hacker’s main wallet still holds more than $6 million in multiple crypto assets, primarily Ethereum, according to on-chain data from Etherscan. The entity behind the hack moved about $57 million worth of assets over the last seven days. Data shows that the known WazirX exploiter addresses have quickly dispersed the funds to addresses that are untracked by blockchain analytics platform Arkham Intelligence. This includes a total of 26 listed transactions to Tornado Cash addresses. Tornado Cash is a decentralized cryptocurrency mixer that uses smart contracts to commingle cryptocurrencies, making it virtually impossible to trace funds back to their original source. It was sanctioned by the United States Treasury’s Office of Foreign Assets Control in 2022, making it illegal to use in the country. Still, authorities have no tools, let alone legal jurisdiction, that would allow them to halt the operations of a decentralized system, and the notorious mixer had handled nearly $2 billion in 2024 through July. The WazirX hack targeted a multisignature wallet, resulting in the…

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Filed under: News - @ September 26, 2024 11:18 pm