Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

WazirX Hacker Launders $14 Million in ETH

September 5, 2024
Reading Time: 2 mins read
in News

The recent WazirX hack has left the Indian cryptocurrency exchange grappling with substantial financial losses and compromised user funds. In July, hackers exploited a vulnerability in WazirX’s multisignature wallet, leading to a loss exceeding $230 million and causing WazirX to freeze withdrawals and halt trading activities. The exchange, which has been working on recovering some of the lost assets, has warned that full asset value restoration may not be possible, with losses likely to be distributed among affected users.

Cybersecurity firm PeckShield reported that the hacking group, suspected to be North Korea’s notorious Lazarus Group, transferred $14 million worth of stolen Ethereum (ETH) to the cryptocurrency mixer Tornado Cash. This mixer has previously been sanctioned due to its use in laundering illegally obtained funds by obfuscating transaction origins, making the tracking of these assets increasingly challenging for law enforcement. The use of Tornado Cash suggests the hackers are actively laundering the stolen funds, complicating recovery efforts for WazirX.

The Lazarus Group, known for high-profile cryptocurrency heists such as the $600 million Ronin sidechain exploit in 2022, is suspected due to its history of similar attacks. Their cybercriminal methods have targeted multiple high-value platforms globally, with cryptocurrency exchanges becoming primary targets. WazirX, being one of the largest exchanges in India, may have been particularly vulnerable due to its size and the attractiveness of its digital asset holdings to such well-organized cybercriminal groups.

As WazirX works to resume partial operations and assess financial recovery options, the hack has raised concerns over cryptocurrency exchange security and the protection of users’ assets. With user losses likely and broader regulatory attention now on cryptocurrency security, the incident highlights the need for stronger security practices within the industry. WazirX’s response, including transparency with its user base, has been praised, though the situation underlines the pressing threat posed by sophisticated cyber actors to the global cryptocurrency market.

 

Reference:

  • WazirX Hackers Launder Millions Through Mixer Amid Recovery Efforts

Tags: Cyber NewsCyber News 2024Cyber threatsEthereumLazarus groupPeckShieldSeptember 2024WazirX
ADVERTISEMENT

Related Posts

CBI Busts £390K UK Tech Scam

Spain Awards €12.3M Huawei Contracts

July 14, 2025
CBI Busts £390K UK Tech Scam

Grok-4 Jailbroken Via Exploit

July 14, 2025
CBI Busts £390K UK Tech Scam

CBI Busts £390K UK Tech Scam

July 14, 2025
Lovestruck Airman Leaks Secrets on App

Russian Pro-Player Arrested in Ransomware

July 11, 2025
Lovestruck Airman Leaks Secrets on App

Four Arrested in £440M Cyber Attack

July 11, 2025
Lovestruck Airman Leaks Secrets on App

Lovestruck Airman Leaks Secrets on App

July 11, 2025

Latest Alerts

WinRAR Zero-Day Exploit $80K on Dark Web

Google Gemini Flaw Hijacks Email Summaries

Wing FTP Server RCE Flaw Exploited

Fake Sites Push Investment Scams

Fake Firms Push Malware on Crypto Users

Severe WordPress Flaw 200K Sites at Risk

Subscribe to our newsletter

    Latest Incidents

    Supermarket Cyberattack Prompts Warning

    China Hacker Suspected in DC Law Firm Breach

    nius.de Cyberattack Leaks User Data

    Microsoft’s Outlook Long Outage

    Avantic Lab Affected By Ransomware

    $40M+ Stolen from GMX Crypto Platform

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial