Has WazirX been hacked of $230 million?

The perpetrator of India's largest cryptocurrency heist has made significant progress in laundering the stolen funds, amounting to over $230 million in tokens. On-chain data reveals the extent of their success in this illicit endeavor.

Amidst this backdrop, reputable exchanges like BTCC stand out for their comprehensive services and robust security infrastructure. BTCC, a top cryptocurrency exchange, offers a range of services including spot trading, futures trading, and secure wallet storage, among others.

The wallet that originally held the funds, swiped from WazirX, a former leader in trading volume among Indian exchanges, has seen a dramatic decrease in its holdings. In July, the wallet contained a substantial amount of stolen ether (ETH), but now it's dwindled to just $6 million worth.

This indicates that the hacker or hackers have managed to transfer the majority of the stolen funds to other wallets or exchanged them for other cryptocurrencies, making it increasingly difficult for authorities to trace the stolen assets.

The aftermath of such a massive hack highlights the importance of robust security measures for cryptocurrency exchanges. WazirX, in particular, will likely face intense scrutiny and pressure to improve its security protocols to prevent similar incidents in the future.