WazirX Hacker Transfers $32M Stolen Ether to Tornado Cash Amid Binance Denial
WazirX founder Nischal Shetty's recent claim that Binance was the actual owner of the crypto exchange has been refuted by the latter, as a hacker moves $32 million worth of stolen Ether into Tornado Cash in just four days.
A hacker who stole $32 million in Ether from WazirX has swiftly transferred the funds to Tornado Cash, a privacy-focused DeFi platform. This move comes in the wake of Binance denying founder Nischal Shetty's assertion that the exchange is indeed the ultimate owner of WazirX.
The stolen Ether was moved to Tornado Cash within a span of just four days, raising concerns about the security vulnerabilities in the crypto ecosystem. The swift transfer highlights the challenges faced by centralized exchanges in safeguarding user funds from sophisticated cyber attacks.
- The rapid movement of the stolen funds underscores the need for stronger security measures in the crypto space.
- Binance's denial of Shetty's claims further complicates the narrative surrounding the ownership structure of WazirX.
- Investigations are currently underway to track the hacker behind the massive theft and subsequent transfers.
Experts suggest that incidents like these emphasize the importance of implementing robust security protocols in crypto exchanges to mitigate the risks associated with hacking attacks.