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A wallet address linked to the hacker involved in the $235 million breach of Indian crypto exchange WazirX has recently transferred $6.5 million worth of stolen Ether (ETH) through the sanctioned crypto mixer Tornado Cash. According to a September 3 update from blockchain security firm Cyvers, the hacker moved a total of 2,600 ETH to Tornado Cash in an attempt to launder the funds.
Data from crypto tracking platform DeBank indicates that the hacker’s wallet, which initially held $6.7 million, now has a remaining balance of $154,000. The transfers were executed in a rapid sequence, with 26 separate transactions of 100 {Ethereum} (ETH) each occurring within a single hour.
This activity coincides with WazirX's announcement on September 3 that it has accelerated the withdrawal process for users. The exchange revealed that users can now withdraw up to 66% of their Indian Rupee (INR) token balances, a week ahead of the originally scheduled withdrawal window. WazirX's initial plan, set for September 9, has been moved up to facilitate quicker access to funds for users.
Following the July 18 security breach, WazirX has been implementing a phased approach to resume normal operations. This includes reinstating INR withdrawals, which commenced on August 26. However, the exchange noted that 34% of INR-denominated balances remain frozen due to ongoing investigations with various law enforcement agencies.
Additionally, WazirX is navigating legal challenges and restructuring efforts. The company has initiated legal proceedings in Singapore, which has been chosen as the jurisdiction for its restructuring process. This restructuring is part of the broader effort to stabilize the exchange and address legal and operational issues stemming from the significant security breach.
