$57M ETH Moves: WazirX Hacker Strikes Again

YEREVAN (CoinChapter.com)— The hacker behind the $230 million WazirX hack has moved another $57 million of stolen funds. The hacker transferred 16,350 Ether (ETH), worth over $57 million, to two new cryptocurrency addresses.

Blockchain security firm PeckShield reported that most of these funds, over $54 million, went to the address “0x58d.”

WazirX Boosts Bug Bounty Programs to Recover Stolen Funds

In response to the hack, WazirX has boosted its bug bounty programs. The “Track and Freeze Bounty” offers up to $10,000 in Tether (USDT) for actionable intelligence leading to the freezing of the stolen funds.

The “White Hat Recovery Bounty” rewards ethical hackers with up to 10% of the recovered amount. A WazirX spokesperson confirmed that the upper limit for the white hat bounty had been doubled to $23 million after community feedback.

So far, 54 white hat hackers have registered for the recovery program.

PeckShield reported that the hacker had been strategically funneling the stolen assets. By converting various altcoins into Ether, which lacks built-in freezing mechanisms, the hacker aims to launder the funds.

Last week, the hacker converted $149 million worth of altcoins into Ether, further complicating recovery efforts.

Crypto Sector Hit Hard: WazirX and Rho Markets Face Major Hacks

The WazirX hack is the second-largest cryptocurrency theft of 2024. The cryptocurrency sector faced a tough week with multiple security breaches. Shortly after the WazirX theft, Rho Markets experienced an $8 million exploit.

An unauthorized individual accessed the protocol’s blockchain oracle, causing significant losses. However, Rho Markets announced that all funds were returned. The loss stemmed from a maximal extractable value bot exploiting a price oracle misconfiguration.

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