gave users new ways to pay, letting them get back up to 66% of the Indian rupee amounts they had lost.
Someone recently sent $6.5 million worth of Ethereum (ETH) through the cryptocurrency mixer Tornado Cash. This person is linked to the theft of more than $235 million from the Indian cryptocurrency exchange WazirX. The goal here seems to be to hide where the stolen money came from.
A company called Cyvers that protects blockchains said on September 3 that the hacker’s wallet, which had $6.7 million in it at first, sent 2,600 ETH to Tornado Cash 26 times. The hacker made all of the trades worth 100 ETH in one hour. A website that keeps track of coins, DeBank, says that after these changes, the wallet’s value dropped to just $154,000.
Not long before this, WazirX said it had cut down on the time it would take for users to get up to 66% of their Indian rupee token amounts. WazirX users were supposed to get their money on September 9, but the date was changed so they could get it almost a week early.
Because of the July 18 breach that cost $235 million, WazirX is in the middle of a staged recovery plan that will get its banks back up and running. The first step, which began on August 26, was to let people send money again in Indian rupees.
WazirX said that there are still legal issues with taking bitcoin, even with these efforts. As of August 23, the exchange said that 34% of rupee amounts had been “frozen” while they looked into them with different law enforcement agents. Singapore is in charge of the rebuilding process because that’s where the company has chosen to keep its legal affairs.
There is less chance of getting back the stolen money since the hacker used Tornado Cash. Tornado Cash is a well-known decentralized mixer that hides transaction tracks. This makes it hard to see how assets move from one blockchain to another. People who break the law often use this way to hide cryptocurrencies they got without permission.
