The hacker behind the WazirX hack has moved a major cut of the stolen funds through Tornado Cash this week.
In response to the hack, WazirX has sped up the timeline for users to withdraw their Rupee balances.
Despite the accelerated withdrawal window, WazirX faces legal challenges, including frozen funds and ongoing investigations in Singapore.
The hacker's identity and motives remain a mystery, but if all goes well, good news should soon be coming.
Just as the Indian crypto exchange WazirX recently reopened its withdrawal portal and allowed its users to access their balances earlier than planned, the hacker responsible for the original theft of over $235 million seems to have come back to life.
According to recent reports, this hacker has moved a massive amount of their loot, laundering it through Tornado Cash.
What is this person up to? Who are they, and could something massive be incoming?
According to data revealed by Cyvers, on 3 September, the wallet address linked to the hacker behind the WazirX exploit transferred a substantial $6.5 million worth of Ethereum to Tornado Cash.
This action was an obvious attempt to launder the stolen funds, making it easy to spend all that money without being tracked or caught.
Overall, they moved 2,600 ETH in total through the crypto mixer.
According to Cyvers, the hacker's wallet held around $6.7 million on 2 September.
The hacker transferring funds
However, after making 26 separate transactions of 100 ETH each within just one hour, the balance crashed to a mere $154,000.
Interestingly, these transactions were carefully executed in a way that made them almost impossible for anyone to track.
These developments come amid an exchange announcement about a sped-up timeline for users to withdraw their Indian Rupee (INR) token balances.
The withdrawal phase was initially scheduled for 9 September. However, the exchange has now moved the withdrawal window forward, allowing users to access up to 66% of their balances from 3 September.
This decision has been welcomed by the exchange’s user base, which has been eager to access their funds since the hack.
This comes amid the exchange’s broader plans to resume normal operations since the incident in July.
Still, it isn't the end of WazirX's legal woes, as 34% of its INR-denominated balances remain frozen due to ongoing investigations by various law enforcement agencies.
Additionally, the exchange's executives have been in and out of court in Singapore, which it has chosen as the area for its legal restructuring.
Overall, the recent transfer of the stolen funds shows the magnitude of the exchange's challenges in its recovery efforts.
Nobody knows why the hacker moved these funds or who they are yet. However, If all goes well, some promising news should be forthcoming.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.