Published on juli 23, 2024, 12:28 am
Image source: Fox News
```json { "TLDR": "The hacker behind the $230 million WazirX hack moved an additional $57 million in stolen funds. WazirX is offering rewards for tracking down the funds, raising the limit to $23 million for white hat hackers. The hacker converted stolen altcoins into Ether for laundering. Similar malicious activities have been reported in the cryptocurrency space recently, including a significant exploit at Rho Markets and phishing attacks on Hamster Kombat players." } ```
A hacker responsible for the $230 million WazirX hack has recently shifted an additional $57 million of the stolen funds as the exchange ramps up its bug bounty initiatives. The WazirX hacker moved 16,350 Ether (ETH), valued at over $57 million, to two new cryptocurrency addresses in the latest movement involving the pilfered assets. The majority of the amount, exceeding $54 million, was transferred to address “0x58d” as reported by blockchain security firm PeckShield on a July 22 post.
WazirX, an Indian cryptocurrency exchange, fell victim to one of the largest cryptocurrency hacks of 2024 when over $230 million was stolen. Analyzing the onchain movement of these embezzled funds could potentially unveil crucial information about the perpetrator behind this breach.
In response to this incident, WazirX has initiated two bounty programs aimed at aiding in tracking down the stolen funds. The track and freeze bounty promises rewards of up to $10,000 in Tether (USDT) for individuals providing actionable intelligence that leads to freezing the illicitly obtained funds. Furthermore, ethical hackers participating in the white hat recovery bounty can receive up to 10% of the sum they assist in recovering. Notably, WazirX has raised the upper limit of rewards for white hat hackers to $23 million. At present, 54 white hat hackers have enlisted in WazirX’s recovery program.
Typically, malevolent actors tend to convert stolen funds into Ether to facilitate laundering due to ETH lacking inherent mechanisms for freezing transactions. This trend was evidenced when the WazirX hacker converted around $149 million worth of altcoins into Ether recently.
This significant hack transpired amidst a tumultuous period for cryptocurrencies characterized by malicious undertakings across various platforms. Subsequent to the WazirX breach, Rho Markets encountered an exploitation resulting in nearly $8 million in losses due to unauthorized access to its blockchain oracle mechanism. Nonetheless, Rho Markets managed to reclaim all lost assets and restore normal operations following an incident involving a maximal extractable value bot exploiting a price oracle misconfiguration and subsequently reimbursing all pilfered funds.
Furthermore, participants in Hamster Kombat—a popular Telegram-based clicker game—faced phishing assaults and fraudulent airdrops designed to deceive players into revealing their credentials and cryptocurrency wallets information.
The ecosystem’s resilience is continuously tested by such events yet responses like fund reimbursements from Rho Markets signify progress towards safeguarding users against malicious activities within the cryptocurrency space.
Original article posted by Fox News
