According to a report from blockchain security firm PeckShieldAlert on September 20th, the address associated with the WazirX exploiter has transferred another 5,000 ETH, valued at around $12 million, to a new intermediary address. This latest movement, directed to address 0xdBdE…8C56, was quickly followed by the laundering of 4,900 ETH through TornadoCash, a widely used decentralized privacy platform.
#PeckShieldAlert
The
#WazirX
exploiter-labeled address has executed its 10th transfer of 5K
$ETH
(approximately ~$12M) to the intermediary address 0xdBdE…8C56 and has laundered 4.9K
$ETH
via
#TornadoCash.
Overall, the
#WazirX
exploiter has successfully laundered a total of 52.5K
$ETH
…
pic.twitter.com/UdQqIsJvVy
— PeckShieldAlert (@PeckShieldAlert)
September 23, 2024
This transaction marks the tenth batch of funds moved by the WazirX exploiter, bringing the total laundered ETH to 52,500. The aggregate value of these laundered assets now amounts to around $139 million. The exploiter’s repeated use of TornadoCash to conceal the movement of stolen funds raises significant concerns regarding the platform’s role in facilitating illegal financial activities.
In a separate yet equally distressing incident, the cryptocurrency exchange BingX experienced a breach that resulted in the loss of approximately $26.68 million in digital assets. According to PeckShieldAlert, the stolen funds primarily originated from Ethereum and Binance’s BNB Chain.
#PeckShieldAlert
#BingX
has suffered a hack leading to a loss of around $26.68M in cryptocurrencies. The stolen funds mainly stemmed from
#Ethereum
and
#BNBChain.
The hacker has already converted most of the stolen assets into approximately 4,526
$ETH
and 7,864.7
$BNB.
For details on the stolen assets, check here:…
pic.twitter.com/4m2OfxTpsV
— PeckShieldAlert (@PeckShieldAlert)
September 20, 2024
PeckShield indicates that the perpetrator of the BingX hack has successfully swapped the stolen assets for 4,526 ETH and 7,864.7 BNB. This incident highlights the ongoing security vulnerabilities within cryptocurrency platforms, as both Ethereum and BNB Chain remain attractive targets for large-scale attacks.
These events underscore the increasing concerns regarding the safety of cryptocurrency exchanges and the ongoing use of decentralized privacy tools like TornadoCash to facilitate the laundering of illicit funds. The exploits at WazirX and BingX reveal a pressing need for improved security protocols and regulatory oversight in the cryptocurrency sector, as hackers continue to exploit blockchain technology to mask their actions.
