Alert: Indian Exchange WazirX Loses $235M in Wallet Breach
An unfortunate incident has occurred at WazirX, the leading Indian digital assets exchange, as cyber criminals managed to steal a staggering $235 million worth of cryptocurrencies due to a breach in the platform’s wallet security.
Details of the Breach
The breach was discovered when blockchain security firm Cyvers Alerts reported that a significant amount of WazirX’s funds, totaling $234.9 million, were transferred to a new address. What is particularly concerning is that the caller of each transaction was funded by the crypto mixer Tornado Cash.
- Cyvers’ system detected multiple transactions involving WazirX’s Ethereum-based Safe Multisig wallet.
- The security team attempted to contact the exchange prior to the public announcement but received no response.
Cryptocurrencies Involved
At the time of the breach, the attacker had already converted the stolen Pepe (PEPE), Gala (GALA), and Tether (USDT) tokens into ether (ETH) and executed additional swap transactions. Other cryptocurrencies affected include Polygon (MATIC), Floki Inu (FLOKI), Shiba Inu (SHIB), 1Inch (1INCH), Uniswap (UNI), and the FTX Token.
Data shared in the Telegram Channel Investigations by ZachXBT reveals that the attacker still holds $221 million worth of tokens in their wallets. Notable assets include $87.5 million worth of SHIB, $4.6 million worth of MATIC, and $93.5 million worth of ETH.
Current Investigation
As the attacker continues to convert the stolen assets into ETH, WazirX has informed its community that an investigation is underway. The exchange has taken proactive measures by pausing crypto withdrawals to prevent further losses and secure the remaining assets.
“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. We’ll keep you posted with further updates,” WazirX tweeted.
Impact on WRX Token
The breach has had a detrimental effect on the price of WazirX’s native token, WRX. CoinMarketCap data indicates that the token experienced a 15% drop in value as news of the attack spread. Despite a slight recovery to $0.148 from a low of $0.143, WRX remains down by 13% in the past 24 hours.
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