Hacker behind $230 million WazirX exploit converts most siphoned assets into ether

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The Block2024/07/19 04:31

By:The Block

Quick Take The WazirX hacker converted most of the stolen crypto into ether, according to Lookonchain. Blockchain analytics firm Elliptic suggested that North Korea-affiliated hackers were behind the attack.

The exploiter of the $230 million worth of crypto from India’s WazirX exchange has transferred most of the assets into ether, blockchain analytics firm Lookonchain said on X Thursday night.

The hacker has exchanged the funds for 43,800 ETH ($149.46 million) and holds around 59,097 ETH, Lookonchain said in the X post . The wallet has about $15 million worth of crypto remaining, in Dent, Chromia, Celer Network and Frontier tokens.

“It is worth noting that WazirX exploiter deposited 7.7M $DENT ($7.3K) to a Binance deposit address that has not been used before,” Lookonchain added.

The Indian crypto exchange suffered the $230 million breach on Thursday, which targeted its multisig wallet on the Ethereum network. Over 200 different crypto assets were stolen, including Shiba Inu, Ethereum, Polygon and PePe memecoin.

WazirX has since paused all withdrawals, acknowledging the security breach while calling the incident a “force majeure event” beyond its control.

Meanwhile, another blockchain analytics firm Elliptic said in a report that on-chain data suggests that the exploit was conducted by North Korea-linked hackers.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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