Indian crypto exchange WazirX suffered a security breach, losing over $230 million in crypto assets, the company confirmed in a recent post.
📢 Update: We’re aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident. To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused. Thank you for your patience and understanding.…
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) July 18, 2024
Cyvers Alert first reported the attack today. Hackers stole cryptocurrencies, including Pepe (PEPE), Gala (GALA), and Tether (USDT), from WazirX’s Safe Multisig wallet. They transferred the stolen funds to a new address and converted them into Ethereum (ETH).
“The suspicious address has already swapped $PEPE, $GALA, and $USDT to $ETH and continues to swap other digital assets,” Cyvers Alert stated. They added that the hackers used Tornado Cash, a privacy tool, to hide the funds’ movements.
Cyvers claimed they tried to contact WazirX but got no response.
On-chain investigator ZachXBT reported that the attacker still holds $100 million in Shiba Inu (SHIB) and $4.7 million in Floki Inu (FLOKI) at the time of writing.
The WRX token price has not shown any impact from this news, increasing 5.3% over the past 24 hours.
