{"id":84662,"date":"2024-07-22T09:25:44","date_gmt":"2024-07-22T13:25:44","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=84662"},"modified":"2024-07-22T09:32:11","modified_gmt":"2024-07-22T13:32:11","slug":"wazirx-hacker-transfers-57m-eth-exchange-increases-bounty","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/wazirx-hacker-transfers-57m-eth-exchange-increases-bounty\/","title":{"rendered":"WazirX Hacker Transfers $57M ETH, Exchange Increases Bounty"},"content":{"rendered":"\n

The $230 million WazirX hacker<\/a> has transferred $57 million in ETH of the stolen funds to two new cryptocurrency addresses.<\/p>\n\n\n\n

\"WazirX
WazirX Hacker Transfers $57M ETH, Exchange Increases Bounty<\/figcaption><\/figure>\n\n\n\n

In the most recent endeavor to redirect the stolen assets, the hacker has transmitted 16,350 Ether worth over $57 million to two new crypto wallets.<\/p>\n\n\n\n

According to a July 22 X post by blockchain security firm PeckShield, most funds (more than $54 million) were sent to address “0x58d.”<\/p>\n\n\n\n

\"WazirX<\/figure>\n\n\n\n

The second-largest cryptocurrency breach of 2024 thus far occurred when an unknown hacker stole more than $230 million from WazirX, an Indian cryptocurrency exchange. The on-chain movement of the stolen funds has the potential to reveal critical information regarding the hacker's identity.<\/p>\n\n\n\n

WazirX Exchange Increases its Bounty Program<\/h2>\n\n\n\n

WazirX has implemented two bounty programs for on-chain investigators<\/a> to facilitate the tracking of misappropriated funds.<\/p>\n\n\n\n

The initial bounty, the monitor and freeze bounty, provides up to $10,000 of Tether to individuals who can “provide actionable intelligence leading to the freezing of the stolen funds.”<\/p>\n\n\n\n

The second bounty, the white hat recovery bounty, provides ethical hackers with a portion of the recovery amount, up to 10%.<\/p>\n\n\n\n

Cointelegraph was informed by a WazirX spokesperson that the upper limit for the white hat bounty has been doubled to $23 million.<\/p>\n\n\n\n

\n

\u201cBounty doubled to $23 million after community feedback.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

The spokesperson also stated that 54 white hat hackers have registered for the WazirX recovery program thus far.<\/p>\n\n\n\n

Malicious actors frequently transfer stolen funds into Ether to prepare them for laundering, as the ETH token lacks a built-in mechanism for blocking.<\/p>\n\n\n\n

This is likely why the WazirX intruder converted $149 million worth of altcoins into Ether last week.<\/p>\n\n\n\n

Cryptocurrency Hack in the Past Week<\/h2>\n\n\n\n

Malicious activities beset the cryptocurrency sector during the week in question, and the high-profile $230 million hack was terrible.<\/p>\n\n\n\n

An unauthorized individual gained access to the blockchain oracle of Rho Markets\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> shortly after the WazirX theft, resulting in the theft of nearly $8 million in digital assets.<\/p>\n\n\n\n

The Scroll-based liquidity layer and lending protocol announced that all funds had been returned, and Rho Markets could resume operations. <\/p>\n\n\n\n

This was a fortunate turn of events. The protocol also disclosed that the loss resulted from a maximal extractable value bot that capitalized on a price oracle misconfiguration and returned all the funds.<\/p>\n\n\n\n

The phishing attacks and phony airdrops that targeted players of the viral clicker game Hamster Kombat<\/a>, based on Telegram, also attempted to steal their cryptocurrency wallets and credentials.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The $230 million WazirX hacker has transferred $57 million in ETH of the stolen funds to two new cryptocurrency addresses. In the most recent endeavor to redirect the stolen assets, the hacker has transmitted 16,350 Ether worth over $57 million to two new crypto wallets. According to a July 22 X post by blockchain security […]<\/p>\n","protected":false},"author":12,"featured_media":84669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[6537,20719,1597],"class_list":["post-84662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-crypto-hack","tag-bounty-program","tag-wazirx"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/waw.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=84662"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/84669"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=84662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=84662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=84662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}