CandleFocus

WazirX Exploiter Launders $12 Million in ETH Through TornadoCash

Author: Content Editor
In the first incident, the exploiter targeting the WazirX cryptocurrency exchange has moved another batch of 5,000 ETH, worth around $12 million, to a new address. The funds were quickly laundered through the decentralized privacy tool TornadoCash. This marks the 10th batch moved by the exploiter, bringing the total laundered ETH to 52,500, valued at approximately $139 million. The repeated use of TornadoCash raises concerns about its involvement in illicit financial activities.

In a separate breach, the BingX cryptocurrency exchange was hacked, resulting in the theft of about $26.68 million worth of digital assets, primarily from Ethereum and Binance's BNB Chain. The hacker has converted most of the stolen assets, accumulating 4,526 ETH and 7,864.7 BNB. This highlights the ongoing security challenges faced by cryptocurrency platforms, with Ethereum and BNB Chain being popular targets for attacks.

These incidents underscore the need for improved security measures and regulatory oversight in the cryptocurrency space. The use of decentralized privacy tools and the ability of hackers to obscure their activities through blockchain technology are growing concerns.

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