WazirX hacker moves $57 million worth of ETH, exchange increases bounty to $23 million

The hacker behind the $230 million WazirX exploit has transferred $57 million in stolen funds to two new cryptocurrency addresses, prompting the exchange to double its white hat bounty program.

PeckShield, a blockchain security company x.com/PeckShieldAlert/status/1815308665634914524″ target=”_blank” rel=”noopener nofollow noreferrer”>reported On July 22, the hacker moved 16,350 Ether (eth) worth over $57 million to two new cryptocurrency wallets. The majority of the funds, over $54 million, were sent to an address with “0x58d” as its initials.

This latest on-chain movement represents a significant portion of the $230 million stolen from WazirX, India’s largest cryptocurrency exchange by volume, in what is considered the second-largest cryptocurrency hack of 2024 so far. The transfer of stolen assets to new addresses could reveal important details about the hacker’s identity and methods.

In response to the attack, WazirX has launched two bounty programs aimed at tracking and recovering the stolen funds. The first program offers up to $10,000 in Tether USD (USDT) for “actionable intelligence leading to the freezing of stolen funds.” The second, a white hat recovery bounty, rewards ethical hackers with up to 10% of the funds they help recover.