Ethereum Heist Endgame: WazirX Hacker's $230M Vanishing Act

The thief who took $230 million from Indian crypto exchange WazirX in July has almost finished hiding the money. New data shows only $6 million in Ethereum (ETH) is left to hide. The hacker used Tornado Cash to move most of the stolen funds. This tool helps hide where digital money comes from, making it hard to track.

The theft was massive, taking over 45% of WazirX’s money. The hacker stole different types of crypto, including more than $100 million in Shiba Inu (SHIB) and $52 million in Ethereum. Since August, the thief has moved over $50 million through Tornado Cash. They’ve been swamped lately, moving about $10 million worth of Ethereum in one go.

Criminals often use Tornado Cash to hide stolen crypto. While the tool itself isn’t illegal, many bad actors use it. This has caused problems. A court in the Netherlands recently sent a Tornado Cash developer to jail for over five years for helping with money laundering.

Ethereum in Limbo: WazirX Crisis and Binance Fallout

After losing so much money, WazirX started reorganizing its business in Singapore. They’re trying to deal with all the money they now owe. But many people are unhappy with how WazirX has handled this crisis. They say the exchange hasn’t been honest with its users.

To make things worse, Binance, a company that used to work with WazirX, said it wasn’t involved in the hack and doesn’t control WazirX. This statement went against what WazirX’s co-founder said earlier, causing more confusion and problems.

Now that the hacker has hidden most of the stolen money, WazirX is still struggling to regain it. This situation raises questions about whether WazirX can survive and how safe crypto exchanges are.

The crypto world is watching closely to see what happens next. Will WazirX recover? Can they win back their users’ trust? And how can other exchanges prevent similar attacks in the future? As the dust settles on this massive theft, these questions remain unanswered, leaving many in the crypto community worried about what’s to come.

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