WazirX Hack: $32 Million in Ether Moved to Tornado Cash Amidst Ownership Dispute

WazirX Hack: $32 Million in Ether Moved to Tornado Cash Amidst Ownership Dispute

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The recent hack of WazirX, a popular Indian cryptocurrency exchange, has taken a dramatic turn with the revelation that $32 million worth of stolen Ether has been moved to Tornado Cash, a service known for its ability to obfuscate the origin of cryptocurrency transactions. This development comes amidst an ongoing dispute between WazirX founder Nischal Shetty and Binance, the world’s largest cryptocurrency exchange, regarding the ownership of WazirX.

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Shetty had previously claimed that Binance was the ultimate owner of WazirX, a statement that Binance has vehemently denied. The movement of the stolen Ether to Tornado Cash has further fueled speculation about the relationship between the two exchanges and the potential implications for the hack.

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The use of Tornado Cash, often associated with illicit activities, raises concerns about the transparency and security of WazirX. The exchange has yet to provide a comprehensive explanation for the hack or the subsequent movement of funds, leaving users and the wider cryptocurrency community questioning the extent of the breach and the role of Binance in the situation.

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As investigations continue, the crypto community is watching closely to see how this complex situation unfolds and what ramifications it might have for the future of WazirX and the Indian cryptocurrency market.