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- WazirX Hacker Launders $6.5M Through Tornado Cash as WazirX Rushes to Unfreeze User Funds!
WazirX Hacker Launders $6.5M Through Tornado Cash as WazirX Rushes to Unfreeze User Funds!
A hacker who stole $235 million from WazirX has funneled $6.5 million through Tornado Cash for laundering.
Steven Walgenbach
September 03, 2024
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Breaking Crypto Stories
Here are the top stories today:
WazirX Hacker Moves $6.5M Through Tornado Cash
Ripple’s Chief Legal Officer Slams SEC's Use of 'Crypto Asset Security' as Unfounded
Brazil's Supreme Court Confirms Suspension of Elon Musk’s X Amid Legal Dispute
🌪️WazirX Hacker Moves $6.5M Through Tornado Cash
A hacker involved in the $235 million theft from Indian crypto exchange WazirX has moved $6.5 million worth of Ethereum through Tornado Cash to launder the funds.
A wallet linked to the hacker responsible for stealing $235 million from WazirX has transferred $6.5 million in Ethereum through the sanctioned crypto mixer Tornado Cash to launder the stolen assets.
On Sept. 2, the hacker’s wallet, which initially held $6.7 million, saw significant activity with 26 transfers of 100 ETH each to Tornado Cash in one hour, leaving only $154,000 remaining.
WazirX has expedited the withdrawal process for users, allowing them to withdraw up to 66% of their Indian rupee token balances earlier than planned, as part of their efforts to restore operations following the July 18 hack.
💼Ripple’s Chief Legal Officer Slams SEC's Use of 'Crypto Asset Security' as Unfounded
Stuart Alderoty, Ripple Labs' chief legal officer, has criticized the SEC for its use of the term “crypto asset security,” calling it a baseless construct with no legal standing.
Ripple's Stuart Alderoty condemns the SEC’s use of the term “crypto asset security,” labeling it as a non-existent legal concept.
The SEC has warned that it might contest FTX's plan to use stablecoins for creditor repayments, citing its portfolio of “crypto asset securities.”
Alderoty draws parallels with a 1976 SEC ruling on art sales, arguing that similar principles should apply to current crypto-related cases.
🛑Brazil's Supreme Court Confirms Suspension of Elon Musk’s X Amid Legal Dispute
The Brazilian Supreme Court has upheld a suspension of the social media platform X, owned by Elon Musk, following the company’s refusal to appoint a legal representative in Brazil.
Brazil's Supreme Court unanimously supports a decision to suspend X due to Elon Musk’s failure to designate a legal representative in the country.
The suspension, originally imposed by Justice Alexandre de Moraes, remains in effect until X addresses outstanding fines totaling over $3 million.
Musk’s criticism of Justice Moraes as a “dictator” and the platform's alleged role in promoting misinformation contributed to the legal conflict.
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Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Ethereum (ETH)
Price Movements: Ethereum (ETH) is currently trading near key resistance levels, with recent price action showing a balance between bullish and bearish forces.
Key Levels To Watch: Resistance at $2,526.0 and $2,575.97 could signal a potential breakout, while support at $2,448.75 and $2,437.02 may prevent further declines.
Trade Strategies: Consider going long if ETH breaks above $2,526.0, targeting $2,575.97, or short if it fails to break resistance, aiming for support near $2,437.02, with appropriate stop losses to manage risk.
Bitcoin (BTC)
Price Movements: Bitcoin is showing signs of cautious optimism, with a potential bullish reversal on the 4-hour chart as momentum builds.
Key Levels to Watch: Resistance levels are at $59,682.84 and $60,024.01; key support levels are at $58,830.00 and $58,600.98.
Trade Strategies: Consider entering long positions on a break above $59,683.39, targeting $60,024.01. For short trades, look for a rejection at $59,683.39 or a break below $58,825.53, aiming for $58,600.98.
Dogwifhat (WIF)
Price Movements: WIF has been on a steady upward trend, nearing significant resistance levels, indicating potential for further gains if momentum continues.
Key Levels To Watch: Resistance levels at $1.616, $1.643, and $1.655 are critical, with support levels at $1.5572, $1.553, and $1.5434 serving as potential buy zones if the price dips.
Trade Strategies: Consider long positions if WIF breaks above $1.616 with a stop-loss below $1.553; short positions could be considered near resistance levels with a stop-loss above $1.655.
ICYMI:
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