WazirX Exploiter Moves Funds As Platform Processes Fund Recovery

• The WazirX hacker moved funds worth $6.5 million funds to Tornado Cash in the past day. 
• The platform’s phase 2 of INR withdrawals went live ahead of schedule.

The WazirX exploit has been the talk of the community for the past two months. Having become the largest cryptocurrency hack in 2024, all eyes are set on the platform’s plans and actions for recovery. Meanwhile, the WazirX hack drew new attention in the market as exploiters made their first movements post-hack. 

Notably, according to PeckShield Alert reports, the exploiter’s address moved $6.5 million worth of funds to Tornado Cash, 13 hours ago. The exploiter transferred funds in the form of 2600.1 ETH. This is the first movement that the WazirX hacker has been making since the $230 million exploit. 

The exploiter’s address identified as “0x668” made the movements in batches of 100 ETH and currently holds $154.07K in ETH tokens as per Arkham Intelligence reports. Meanwhile, the platform’s users have expressed dissatisfaction with the firm’s crisis management. They had previously expressed concerns of inadequacy in WaZirx’s fund recovery attempts. 

On the other hand, in the last 24 hours, WazirX users have received two updates in relation to funds retrieval. The platform had, in the past few days, shared strategies and recovery plans on its X account. 

How is WazirX Proceeding Further? 

In the last 24 hours, WazirX announced that it is seeking funding support from its parent company, Zettai. Following this, Zettai is currently discussing partnerships with 11 crypto exchanges to secure emergency funds. 

Furthermore, the hacked platform, in the early Asian hours, announced preponing the INR withdrawals Phase 2 on its X account. Eligible users can now withdraw 66% of their funds in Indian Rupees. Additionally, WazirX CEO Nischal Shetty stated that the resurrecting process might take a minimum of 6 months and asked for patience from the community. 

Relatedly, in the past day, the UK saw authorities round up suspects related to unlicensed Bitcoin ATMs. The community expressed that the lack of clear regulations within the sector is resulting in a surge in illicit activities.  

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