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 firm PeckShield, most funds (more than $54 million) were sent to address “0x58d.”
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.
WazirX Exchange Increases its Bounty Program
WazirX has implemented two bounty programs for on-chain investigators to facilitate the tracking of misappropriated funds.
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.”
The second bounty, the white hat recovery bounty, provides ethical hackers with a portion of the recovery amount, up to 10%.
Cointelegraph was informed by a WazirX spokesperson that the upper limit for the white hat bounty has been doubled to $23 million.
“Bounty doubled to $23 million after community feedback.”
The spokesperson also stated that 54 white hat hackers have registered for the WazirX recovery program thus far.
Malicious actors frequently transfer stolen funds into Ether to prepare them for laundering, as the ETH token lacks a built-in mechanism for blocking.
This is likely why the WazirX intruder converted $149 million worth of altcoins into Ether last week.
Cryptocurrency Hack in the Past Week
Malicious activities beset the cryptocurrency sector during the week in question, and the high-profile $230 million hack was terrible.
An unauthorized individual gained access to the blockchain oracle of Rho Markets shortly after the WazirX theft, resulting in the theft of nearly $8 million in digital assets.
The Scroll-based liquidity layer and lending protocol announced that all funds had been returned, and Rho Markets could resume operations.
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.
The phishing attacks and phony airdrops that targeted players of the viral clicker game Hamster Kombat, based on Telegram, also attempted to steal their cryptocurrency wallets and credentials.
