According to a report by blockchain security firm PeckShieldAlert on September 20th, the address associated with the WazirX exploiter has transferred another 5,000 ETH, worth around $12 million, to a new intermediary address. The funds were swiftly laundered, with 4,900 ETH processed through TornadoCash, a popular decentralized privacy tool.
This latest transaction marks the 10th batch of funds moved by the WazirX exploiter, bringing the total laundered ETH to 52,500. The cumulative value of the laundered assets now stands at approximately $139 million. The exploiter has consistently used TornadoCash to obscure the flow of stolen assets, raising concerns about the platform’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. PeckShieldAlert reports that the stolen funds mainly came from Ethereum and Binance’s BNB Chain. The hacker has already converted most of the stolen assets, amassing 4,526 ETH and 7,864.7 BNB.
These incidents highlight the increasing concerns regarding the security of cryptocurrency exchanges and the use of decentralized privacy tools like TornadoCash to facilitate the laundering of stolen funds. The WazirX and BingX exploits emphasize the urgent need for improved security measures and regulatory oversight in the cryptocurrency space, as hackers continue to exploit blockchain technology to conceal their activities.