In a daring move, the WazirX hacker has shifted $57 million worth of stolen Ether to two new cryptocurrency addresses, marking the latest onchain activity of the ill-gotten gains.

The hacker moved 16,350 Ether, valued at over $57 million, into two separate crypto wallets. According to blockchain security firm PeckShield, the bulk of the funds (over $54 million) was transferred to the address “0x58d.”

This hack, which saw over $230 million stolen from WazirX, stands as the second-largest cryptocurrency heist of 2024. The ongoing movement of these stolen funds might eventually provide clues to the hacker’s identity.

In a bid to recover the stolen assets, WazirX has launched two bounty programs aimed at onchain investigators. The first program, called the "track and freeze" bounty, offers up to $10,000 in Tether for actionable intelligence that leads to the freezing of the stolen funds. The second program, the "white hat recovery" bounty, promises up to 10% of the recovered amount to ethical hackers. Following community feedback, WazirX doubled this bounty’s upper limit to $23 million.

So far, 54 white hat hackers have joined WazirX’s recovery program, aiming to trace and retrieve the stolen assets. The hacker’s conversion of $149 million worth of altcoins into Ether last week was likely a preparatory step for laundering, as ETH lacks built-in freezing mechanisms.

The WazirX hack capped a tough week for the crypto sector, which also saw Rho Markets exploited for nearly $8 million. Fortunately, Rho Markets managed to recover the stolen funds and resume operations. Additionally, players of the popular Telegram game Hamster Kombat faced phishing attacks and fake airdrops targeting their credentials and wallets.

As the WazirX hacker continues to maneuver, the crypto community remains vigilant, hoping the bounty programs will yield results and bring the perpetrators to justice.

Contact us ontelegramfor media partnerships and for ourNFTwhitelist.