WazirX Hacker Moves $57M Worth of ETH Loot to New Addresses

The hacker's latest on-chain activity is the movement of about $57 million worth of ETH from its loot to two new addresses

About $230 million was looted from India's largest cryptocurrency exchange WazirX in a hacking incident last week.

The latest on-chain activity by the hacker shows the movement of about $57 million worth of ETH from its loot to two new addresses.

The hacker continues to funnel the stolen funds with the latest activity being the movement of about 16,350 ether, valued at over $57 million, to two new addresses.

The on-chain activity was picked up by blockchain security firm Peckshield, which shared its findings on X with its community.

"#PeckShieldAlert The #WazirX Hacker -labeled addresses has transferred ~16.35K $ETH (worth ~$57m) to 2 new addresses," Peckshield tweeted.

A bulk share of the $57 million in ETH ($54 million) was moved to a specific address "0x58d" as the hacker continues to funnel the stolen assets.

The WazirX hack was the second-largest hack in 2024 and sparked discussions on the security of crypto platforms and their vulnerability to hacks.

Tracking the on-chain activity of the hacker could reveal specific data on the identity and possibly the location of the hacker.

WazirX bounty program doubledIn an effort to retrieve the stolen assets, which are valued at over $230 million, the WazirX team has launched two bounty programs to incentivize ethical hackers and on-chain investigators who can help freeze and return the assets.

The first bounty aims to promote the possibility of tracking and freezing the assets. The bounty program offers up to 10,000 USDT to anyone who can provide actionable intelligence that leads to the freezing of the stolen assets.

The second bounty program, called the White House Recovery Bounty, aims to reward ethical hackers with 10% of the amount they can help recover. The upper limit of the white hat program was doubled to $23 million, according to a CoinTelegraph source.

Force Majeure EventThe WazirX team, in a special statement on their findings on the hack that led to the loss of over $230 million in assets from the exchange, explained that the heist was a Force Majeure event that was beyond their control. They also mentioned that they are leaving no stone unturned in their efforts to retrieve the stolen assets, assuring their users to stay calm and exercise patience.

The hackers targeted WazirX's multi-sig wallet, which was operated with the services of Liminal digital asset custody and wallet infrastructure.

They were able to breach the wallet, which had six signatories, and cart away $230 million worth of assets in the second-biggest hack of the year.

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