WazirX Confirms $234M “Security Breach” on Its Safe Multisig Wallet
- India’s largest crypto exchange has been hacked.
- The exchange responded to the development by pausing withdrawals.
- The attacker was still moving the stolen funds as of press time.
India’s largest crypto exchange WazirX has paused crypto and INR withdrawals on its platform following a multimillion-dollar security breach.
On July 18, blockchain security firm Cyvers alerted the X (Twitter) crypto community to multiple suspicious transactions involving WazirX’s Safe Multisig wallet on the Ethereum Network.
WazirX Crypto Hack
Noting that a malicious actor had compromised the wallet, Cyvers said the incident resulted in $234.9 million being moved to a new address, with each transaction caller funded by the decentralized privacy protocol Tornado Cash.
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Cyvers said the suspicious recipient address had already swapped some of the stolen loot, including PEPE , GALA, and USDT, to ETH and “continues to swap other digital assets.”
While the Cyvers team mentioned that it tried to pass a message about the WazirX crypto hack but received no response, the crypto exchange appeared to confirm the hack about 36 minutes later.
“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,” WazirX posted on X.According to Lookonchain , the attacker stole assorted cryptos during the incident, including 5.43 trillion SHIB ($102M), 15,298 ETH ($52.5M), 20.5 million MATIC ($11.24M), 640.27 billion PEPE ($7.6 million), 135 million GALA ($3.5M), and $5.79 million USDT.
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The alleged attacker’s address is still active, moving the stolen tokens, and had a balance of $143,238,167 at the time of writing, on-chain data shows. WazirX has yet to issue another update on the development.
Stay updated on the recent LI.FI hack that claimed $10M:
LI.FI Hack Steals $10M from Users: How to Protect Your Funds
Explore how Dough Finance responded to a recent hack on its platform:
Dough Finance Issues Ultimatum to Hacker After $1.8M Exploit
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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