The hacker converted $150 million of altcoins stolen from WazirX to Ethereum, totaling $201 million in ETH, aiming to avoid freezing or blacklisting of funds.
Spot On Chain reported the conversion of $90.2M SHIB, $10.2M MATIC, $7.5M PEPE to ETH, increasing total stolen ETH from $52M to $201M. Ethereum's features make it attractive for laundering as it lacks blacklisting functionalities like some ERC-20 tokens.
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