As a seasoned crypto investor with years of experience navigating the volatile and often unpredictable world of digital assets, I can’t help but feel a sense of frustration and dismay upon hearing about this latest development involving WazirX and Tornado Cash.
It was recently discovered that the cybercriminal responsible for the WazirX data breach moved about $6 million of ill-gotten crypto assets into Tornado Cash, a service designed to anonymize digital currency transactions.
In the last hour, the WazirX hacker made 26 transactions in which he sent 100 ETH in each transaction to Tornado Cash. In this traction, there has been transferred 2600 ETH which is valued at 6 million.
This action prompts worries that these services could be employed to hide the source of illegal money, making it harder to track down and retrieve stolen resources.
On July 18th, a cyber-attack resulted in a shocking $234 million reduction of customer funds, representing approximately 45%. In response to this incident, WazirX has submitted an application for judicial relief at the Singapore High Court, aiming to provide compensation to users affected by the attack.
By employing Tornado Cash, the hacker complicates the situation further, as it becomes harder to trace and retrieve the ill-gotten funds.
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2024-09-02 21:40