A recent report has revealed that the hacker behind the WazirX exchange exploit has sold a large portion of the stolen assets, causing notable price changes in several cryptocurrencies.
In a recent tweet, blockchain analytics firm Nansen reported that the suspected North Korean hacking group has been the top seller of multiple tokens on Uniswap.
Over the past week, the hacker sold $859,514 worth of Uniswap (UNI) tokens, $2.77 million of Chainlink (LINK), and $1.6 million of The Sandbox (SAND).
Following these major sell-offs, all three tokens saw a notable decline. According to CoinMarketCap, LINK is trading at $14.16, down 1.56% over the last seven-day period. SAND is trading at $0.3371, recording a 0.4% loss over the same timeframe. UNI is trading at $7.91, having experienced a 7% decline during this period.
The most significant impact was on Push Protocol (PUSH), a token with a low market capitalization of $6 million. The hacker sold $529,167 worth of PUSH tokens in a single day, causing the token’s price to drop by 39% in 24 hours, reaching a low of $0.08022 before slightly recovering to $0.1071.
Nansen reported that about $5 million worth of funds still remain in the hacker’s wallet, mainly in Celer Network (CELR), Ooki (OOKI), and Frontier (FRONT) tokens.
In response to this security breach, WazirX has launched a bounty program to recover the stolen funds and gather information on the attackers. The program, which will run for three months, offers rewards of up to $23 million for successful recovery efforts.
WazirX CEO Nischal Shetty reported that the exchange is actively collaborating with over 500 cryptocurrency platforms to block addresses associated with the stolen funds.
Also Read: WazirX Suspends Trading After $230 Million Cyberattack