WazirX hacker swaps $150M of tokens to Ethereum

In a strategic move following the $235 million exploit of cryptocurrency exchange WazirX, the hacker has converted approximately $150 million worth of various altcoins to Ethereum (ETH). This conversion, occurring between July 18-19, is likely an attempt to prevent the stolen funds from being frozen or blacklisted.

Blockchain analytics firm Spot On Chain reported that the conversion included $90.2 million in Shiba Inu (SHIB), $10.2 million in Polygon (MATIC), and $7.5 million in Pepe (PEPE). This maneuver has increased the total amount of stolen funds held in ETH from $52 million to $201 million.