WazirX News – WazirX Suffers Major Security Breach, Loses Over $230 Million in Crypto Assets

WazirX News – WazirX Suffers Major Security Breach, Loses Over $230 Million in Crypto Assets

WazirX News – WazirX, India’s leading cryptocurrency exchange, recently confirmed a significant security breach that occurred on Thursday, resulting in an estimated loss exceeding $230 million.

In response to the incident, the exchange announced a temporary suspension of both Indian rupee (INR) and crypto withdrawals to safeguard user funds while a thorough investigation is conducted.

The breach was initially flagged by the security firm Cyvers Alert earlier today. Cyvers reported that a suspicious address had withdrawn approximately $235 million worth of crypto assets from WazirX’s multisig wallet. These assets were then transferred to a new address and converted into Ethereum (ETH).

Cyvers Alert provided additional details, stating, “The suspicious address has already swapped $PEPE, $GALA, and $USDT for $ETH and continues to exchange other digital assets.” The firm also noted that the hacker utilized Tornado Cash, a privacy-enhancing tool, to obscure the transaction trail.

Despite Cyvers Alert’s efforts to contact WazirX upon discovering the breach, they received no immediate response.

On-chain investigator ZachXBT revealed that the hacker still holds $100 million in Shiba Inu (SHIB) and $4.7 million in Floki Inu (FLOKI) at the time of reporting.