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After selling $100 million worth of Shiba Inu (SHIB) months ago, the hacker tied to the WazirX breach is now offloading Ethereum (ETH). The latest move marks a continued effort to liquidate assets stolen during the breach, causing market disruptions.
Hacker Returns to Sell Ethereum After $100 Million SHIB Dump
In a recent 24-hour development, the hacker responsible for the breach of WazirX—one of the biggest cryptocurrency exchanges in India—reemerged as the criminal transferred 10,000 ETH, or $23.3 million.
To further obfuscate the stolen cash, the anonymous individual sent 5,000 ETH to Tornado Cash, an infamous privacy protocol linked to cryptocurrency laundering. They sent another 5,000 ETH to another address.
$30 Million in Ethereum Moved Over Eight Days
The hacker has reportedly laundered 12,600 ETH, or over $30.13 million, in the last eight days, according to U.Today. He now has an incredible 49,100 ETH, or $115 million, in his stockpile.
Following the huge WazirX breach at the end of July, in which different cryptocurrencies valued at roughly a quarter of a billion dollars were stolen from India’s top exchange, the hacker has recently taken further action. Among the stolen assets, Ethereum has recently attracted a lot of attention due to its active trading.
Shiba Inu Price Drops 8% After SHIB Sale
The hacker's influence on the market was most evident in the 8% price reduction of the famous meme-inspired cryptocurrency Shiba Inu (SHIB) that followed the sale of 5.4 trillion SHIB, which was valued at $102 million.
Zettai has petitioned the High Court of Singapore to temporarily halt certain of its obligations in an effort to mitigate the consequences of the violation. Zettai is the Singaporean corporation responsible for WazirX. Gaining more time will allow them to reorganize their liabilities following the $230 million hack and pay out compensation to impacted users.
Additionally, Liminal Custody, the primary infrastructure supplier for WazirX, was not implicated in the incident according to an independent audit. What exchange management originally stated is contradicted by this. It now seems that the hack was caused by outside vulnerabilities instead of those in the internal system.
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