Hackers who stole Rs 2000 crore from WazirX are now turning the stolen money into Bitcoin. A company called Crystal Intelligence found this out.
Hackers stole Rs 2000 crore from WazirX. They are now trying to hide the stolen money by converting it into Bitcoin. They are using special tools to make it hard for the police to find the money.
WazirX Hackers Move Funds Through Tornado Cash
The latest findings from Crystal Intelligence, a leading digital forensics firm, shed light on the sophisticated methods employed by the WazirX hacker to launder the stolen cryptocurrency. The hackers are mainly using Tornado Cash to hide where the stolen money came from. Tornado Cash mixes cryptocurrency transactions to protect privacy. This makes it very hard for experts to track the money.
According to the report, the volume of transactions passing through Tornado Cash’s pools was unusually high, with each transaction valued at around $265,000. This raised concerns because 98% of the funds sent to Tornado Cash on September 10, 2024, were connected to the WazirX hacker.
Tornado Cash Funds Funneled into THORChain and Bitcoin
Once the funds went through Tornado Cash, the hackers used several methods to move the money. These methods included.
Direct Transfers: A large part of the stolen funds, including 99.5 ETH, was sent directly to THORChain, a platform that allows cryptocurrencies to move between different blockchains, through several intermediate addresses.
Complex Routes: In some instances, the hackers used more convoluted methods, routing the funds through multiple hops before eventually reaching THORChain.
Immediate Splits: In some cases, the hackers divided the stolen money into smaller parts and sent it to many different addresses. Then, they sent this money to THORChain.
THORChain acts as a bridge that allows for the seamless exchange of cryptocurrencies between different blockchains. The hacker used THORChain to turn the stolen money into Bitcoin. Now, a lot of this stolen money is in different Bitcoin addresses.
In addition to THORChain, the WazirX hacker has also utilized Wasabi Wallet, a privacy-focused wallet that is designed to enhance anonymity. This tool has been important in hiding the hackers’ actions. Privacy services like Tornado Cash, Wasabi Wallet, and THORChain make it harder for authorities to track the stolen funds. This makes it a big challenge for law enforcement to fully understand the scale of the heist.
Law Enforcement Fights to Track the Stolen Funds
Law enforcement is tracking the stolen funds. The hackers have used methods to hide where the money came from. However experts believe the funds can still be traced, and the criminals can be caught.
One troubling part of the hackers’ plan is sending the funds back to Tornado Cash and converting them into Ethereum. This back-and-forth movement through different privacy tools has made the investigation much harder.
Even though it’s hard, Crystal Intelligence is still trying to watch the hacker. They are ready for any new tricks the hacker might use. As the investigation continues, we will learn more about what happened and how the hacker did it.
The hackers stole money from WazirX and are using special tools to hide it. These tools make it very hard for the police to find the stolen money. The hackers are changing the stolen money into Bitcoin to make it even harder to track. As law enforcement agencies and digital forensics firms like Crystal Intelligence continue their efforts, there is hope that the perpetrators will be identified and the stolen assets recovered. The investigation remains active, with experts closely monitoring any new tactics the hackers may employ to further hide their tracks.
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