Hackers of India-based cryptocurrency exchange, WazirX have moved 5,000 ETH to a new wallet. The development surfaced on Thursday after leading blockchain analytical firm, PeckSheildAlert disclosed that the hackers have moved the fund to a fresh address.
As per the statement, PeckSheildAlert revealed that the attackers used the criticism-engulfed mixing service, Tornado Cash to conceal the traces of the transaction. More so, in the space of 30 minutes, the blockchain firm confirmed that the hackers moved about 1600 ETH to the privacy tool.
Furthermore, the hackers managed to move the funds within that period by sending 100 ETH across 16 transfers. It is worth mentioning that the exploiter started making moves on how to obfuscate the trails of the stolen funds on Tuesday.
Arkham, another leading blockchain analytical company, reported on Tuesday that the attackers moved about $4 million worth of Ether. Data provided by the firm illustrated that the wallet still has in possession more than $155 million worth of different cryptocurrencies.
However, the pattern of the hack and movement of funds has intensified rumors that the attacker may be the popular North Korea’s Lazarus group. Some community members suggested that the notorious group may be the masterminds of the attack.
The group has been on the watchlist of the Federal Bureau of Investigation (FBI) owing to how it has laundered more than $1 billion worth of stolen funds. Accordingly, within the crypto space, the group is well-known for its sophisticated cyber attacks on blockchain and cryptocurrency projects.
Side Note on the Attack On WazirX
Recall that WazirX lost about $235 million in July which affected the exchange, forcing it to halt withdrawal on its platform. Thereafter, the cryptocurrency exchange as a result of the attack sought a Singapore Scheme of Arrangement; a restructuring procedure in line with the country’s insolvency guidelines.
In August, WazirX kick-started the first phase of its withdrawal process allowing users to access just 66% of their total funds. Despite allowing a partial withdrawal, users of the exchange have aired their dissatisfaction with the policy.
In another development, WazirX commenced the second phase of the withdrawal program on Tuesday. Initially, the second batch of the withdrawal was slated to be held on September 9, 2024.
The CEO of the exchange, Nishal Shetty in a post disclosed that WazirX initiated the second phase of the withdrawal as part of its commitment towards ensuring that users reclaim their deposits.