Blockchain security firm PeckShieldAlert has reported that the address associated with the WazirX exploiter has moved another 5,000 ETH, equivalent to around $12 million, to a new intermediary address. The funds were quickly laundered, with 4,900 ETH processed through TornadoCash, a popular decentralized privacy tool.
This recent transaction marks the 10th batch of funds moved by the WazirX exploiter, bringing the total laundered ETH to 52,500 ETH. The total value of the laundered assets is now approximately $139 million. The repeated use of TornadoCash by the exploiter to obscure the flow of stolen assets raises concerns about the tool’s involvement in illicit financial activities.
In a separate incident, cryptocurrency exchange BingX recently fell victim to a hack, resulting in the theft of approximately $26.68 million worth of digital assets. The stolen funds primarily came from Ethereum and Binance’s BNB Chain. The hacker has already converted most of the stolen assets, accumulating 4,526 ETH and 7,864.7 BNB.
These incidents highlight the pressing security challenges faced by cryptocurrency platforms, as both Ethereum and BNB Chain continue to be attractive targets for large-scale attacks. The use of decentralized privacy tools like TornadoCash to facilitate the laundering of stolen funds further raises concerns about the security of cryptocurrency exchanges. It emphasizes the need for increased security measures and regulatory oversight in the cryptocurrency space, as hackers exploit blockchain technology to conceal their activities.
