A hacker responsible for the WazirX attack has transferred $57 million worth of stolen assets to two new cryptocurrency addresses, prompting increased efforts from WazirX to recover the funds.
Points
- Hacker transferred 16,350 Ethereum worth over $57 million to two new wallets.
- WazirX has doubled its white hat reward cap to $23 million to incentivize recovery efforts.
- 54 white hat hackers have registered for WazirX’s recovery program.
- The conversion of altcoins to Ethereum is a common laundering tactic.
- WazirX is conducting a forensic data examination and security audit.
A hacker responsible for the WazirX attack has transferred $57 million worth of stolen assets to two new cryptocurrency addresses. This latest move involved transferring 16,350 Ethereum, valued over $57 million, to two new crypto wallets. According to blockchain security firm PeckShield’s July 22 post, the majority of the funds, worth over $54 million, were sent to an address starting with “0x58d”.
WazirX has responded by doubling the cap for its white hat reward to $23 million: “Following community feedback, the reward has been doubled to $23 million.” This initiative aims to enlist ethical hackers in tracking and recovering the stolen assets. So far, 54 white hat hackers have registered for WazirX’s recovery program.
A WazirX spokesperson stated that the lack of a direct method to freeze Ethereum often leads malicious actors to convert stolen funds into Ethereum, preparing them for laundering. This likely explains why the WazirX hacker recently converted $149 million worth of altcoins into Ethereum. The use of multiple addresses indicates attempts to obfuscate the fund’s trail, complicating recovery efforts.
WazirX has paused trading to conduct a thorough forensic data examination and security audit. Founder Nischal Shetty emphasized that the recovery process will take time, and the increased bounty amount is expected to incentivize more ethical hacking efforts.
解説
- White Hat Reward Program: WazirX’s decision to double the white hat reward cap to $23 million reflects the urgent need to recover stolen funds. This incentive is designed to attract skilled ethical hackers who can provide actionable intelligence leading to the recovery of assets.
- Fund Obfuscation Tactics: The hacker’s use of multiple addresses to transfer stolen Ethereum demonstrates a common tactic to hide the trail of funds, making it more challenging to track and recover the assets.
- Conversion to Ethereum: Converting various cryptocurrencies into Ethereum is a strategic move by hackers to facilitate laundering, taking advantage of Ethereum’s decentralized nature and the difficulty in freezing transactions.
- Forensic Examination and Security Audit: WazirX’s comprehensive forensic data examination and security audit are critical steps in understanding the breach and preventing future attacks. These measures aim to restore user confidence and ensure the platform’s security.
- Community-Driven Recovery Efforts: The involvement of 54 white hat hackers in WazirX’s recovery program highlights the importance of community-driven efforts in addressing security breaches in the crypto industry. Collaborative efforts can significantly enhance the chances of recovering stolen assets and bringing perpetrators to justice.