The mysterious WazirX hacker behind one of the largest cryptocurrency thefts in recent history has resurfaced with a major new transfer. Spot On Chain reports that the hacker transferred 2,600 ETH, worth approximately $6.54 million, to Tornado Cash just 18 hours ago. 

However, with 59,156 ETH, or about $148.8 million, spread across nine different wallet addresses, the hacker still has a large amount of funds.

This latest transfer comes on the heels of the major security breach that hit WazirX at the end of July. The hack, which saw nearly a quarter of a billion dollars in various cryptocurrencies stolen from India's leading crypto exchange, sent ripples through the market. 

The stolen funds have been actively traded for Ethereum, which has created a lot of selling pressure on various digital assets.

One of the most notable transactions was the withdrawal of 5.4 trillion Shiba Inu (SHIB), which was valued at $102 million. This large sale had a major impact on SHIB's market value, causing the price of the token to drop nearly 8% at one point. 

Breathing period

The ongoing movement of these stolen assets continues to impact the broader market, demonstrating the magnitude of the theft.

In response to the breach, Zettai, the Singapore-based company behind WazirX, has asked the High Court of Singapore for a temporary stay on some of its obligations. If granted, this will give the company time to restructure its liabilities in the wake of the $230 million breach and work to reimburse users of the platform.

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.