WazirX Hacker Converts Stolen Funds to $206 Million Worth of ETH

The WazirX exploiter has successfully converted most of the stolen cryptocurrency to approximately $206 million worth of ETH. Despite these conversions, $5.6 million worth of crypto remains in the hacker’s possession. Currently, the hacker holds the stolen assets across three wallets. Wallet 1 contains around $153.5 million in ETH, Wallet 2 holds about $53.5 million in ETH, and Wallet 3 has $5.6 million worth of various cryptocurrencies.

The latest transactions reveal ongoing activity by the WazirX exploiter. One transaction involved transferring 0.02165496 ETH from address 0xc63d6D4…cD7 to the WazirX exploiter. Another transaction transferred a minuscule amount of 0.0000008 ETH from 0x30e2f255…B21. A third transfer of 0.000001 ETH came from address 0xFd4dCb3a…04eb880, with a fee of 0.00019106 ETH.

In response to the cyberattack, WazirX launched a $23 million bounty program to recover the stolen assets. Co-founder Nischal Shetty announced this initiative, seeking global community involvement in tracking, freezing, and recovering the funds. The attack targeted one of WazirX’s multisig wallets, resulting in the theft of over $230 million in assets.

The bounty program consists of two key components. The “Track & Freeze” initiative offers up to $10,000 worth of USDT for actionable intelligence that leads to freezing the stolen funds. This incentive aims to attract individuals with relevant expertise to provide crucial information. Additionally, the “White Hat Recovery” component offers a 10% reward of the recovered amount, up to $23 million, for ethical hackers and cybersecurity experts. This initiative underscores WazirX’s commitment to leveraging the skills of the white hat community to address the breach.

Nischal Shetty has emphasized the importance of community involvement in this recovery effort. He announced on the social media platform X that the bounty program seeks global participation. By involving white hat hackers and the broader community, WazirX aims to utilize their specialized skills in identifying and recovering the stolen assets. This collaborative approach highlights the critical role of collective efforts in addressing cybersecurity threats and recovering stolen assets.