Indian crypto exchange WazirX struggles to recover funds 60 days after hack
WazirX's $235 million hack recovery efforts face hurdles as internal findings yield little to no significant breakthroughs.
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WazirX's $235 million hack recovery efforts face hurdles as internal findings yield little to no significant breakthroughs.
Hackers who stole $235 million from Indian crypto exchange WazirX have moved around $33 million to coin mixer Tornado Cash this week.
The attacker has transferred more than 42,500 ETH ($100 million) to Tornado Cash so far, according to the on-chain analytics platform Arkham.
In a new twist of events concerning the WazirX hack, the hackers have switched $32M worth of stolen Ether (ETH) through the Tornado Cash. Since Monday, $15,000 ETH has been shifted with three tranches of 5,000 ETH transferred over the past 4 days as per the Peckshield alerts.
Binance's rebuttal comes amid growing frustration over the stolen funds.
WazirX founder Nischal Shetty claimed earlier this month that the ultimate owner of the crypto exchange was Binance - a statement the latter has denied.
The hacker behind the WazirX breach recently funnelled $11 million through Tornado Cash, as the total laundered Ethereum reaches 20,000 ETH.
The WazirX exploiter continues to move thousands of the stolen assets across new wallets, with part of the latest batch laundered through crypto mixer Tornado Cash.
Global exchange Binance has addressed the “misleading” claims made by hacked trading platform WazirX, denying any involvement with the Indian exchange and demanding “accountability” from its team after the $235 million crypto heist.
Crypto exchange Binance has responded to accusations from Wazirx and Zettai about how its dispute with Wazirx affects user funds lost in the July cyberattack. The company insists that responsibility for the incident lies with Wazirx's management under Zanmai and Zettai, not Binance.
The world's leading cryptocurrency exchange by trading volume is distancing itself from a cyberattack that recently compromised the WazirX trading platform. In a statement released today, Binance said that it has never owned, controlled, or operated WazirX and that it was not involved in the compromised wallet, contrary to speculation.
The incident underscores the critical need for robust security measures and accountability in cryptocurrency exchanges to protect user funds. The post Binance urges WazirX to compensate users after $235M hack appeared first on Crypto Briefing.
"Their attempts to shift responsibility is a disappointing deflection tactic," Binance wrote in its blog post.
In response to accusations stemming from a devastating $235 million cyber-attack on the Indian crypto exchange WazirX, Binance publicly refuted any responsibility on September 17.
Binance claims it has no ownership of WazirX and urges the exchange to take responsibility for losses following the recent hack.
Binance has denied any relationship with Indian exchange WazirX, noting that it never owned or controlled the crypto platform, which recently lost over $230 million to a hack. In a statement published on its website today, Binance denounced WazirX co-founder Nischal Shetty's claims about the Indian exchange's affiliation with Binance.
Binance has distanced itself from the ongoing struggles of the Indian crypto exchange WazirX in a Sept. 17 statement.
Binance, despite previous ties to WazirX, denies any responsibility for compensating WazirX users.
Binance accused a director of WazirX's parent company of making “misleading statements” to the contrary on Tuesday.
Binance has clarified it ceased wallet services for WazirX in early 2023, rejecting allegations of any culpability in the platform's loss.
Binance urged the WazirX team to take accountability for the hack, and compensate users for the loss of funds.
Binance sets the record straight, distancing itself from WazirX's unfolding saga post-hack.
Binance has denied responsibility for the WazirX cyber-attack, stating it never controlled the platform or the compromised wallet.
WazirX, which was hacked on the 18th of July leading to the loss of $235 million belonging to users, affected a multi sig wallet used by WazirX and its custodian, Liminal.