Indian crypto exchange WazirX hacked for $235 million
Indian crypto exchange WazirX has suffered a major security breach. The hack of WazirX's multisig wallet has led to the unauthorized transfer of assets worth over $230 million. The affected assets include Shiba Inu (SHIB), Pepe Coin (PEPE), Ethereum (ETH), and Polygon (MATIC).
WazirX reported that the breach involved the unauthorized transfer of funds from one of their multisignature wallets to an unknown wallet labeled “0x04b2,” according to blockchain tracking platform Lookonchain. In an official statement on X, WazirX addressed the incident.
The exchange stated, “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. We’ll keep you posted with further updates.”
Since the breach, the compromised wallet has been dumping the stolen assets. It has offloaded 640.27 billion PEPE tokens, valued at approximately $7.6 million. Additionally, it has transferred substantial amounts of other cryptocurrencies, including 20.5 million MATIC tokens worth $11.2 million, 5.4 trillion SHIB tokens valued at $102.1 million, and 15,298 ETH, equivalent to $52.5 million.
These transfers have raised significant concerns among WazirX users regarding the safety of their funds. Despite this, WazirX has assured users that their funds are safe.
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