Shiba

Cryptocurrency

Polygon

Shiba Inu

WazirX

Cryptocurrency exchange WazirX is reeling from a staggering&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/wazir-x-india-suspends-withdrawals-after-234-9-m-theft-reported">$235 million hack</a>, allegedly orchestrated by hackers with ties to North Korea, according to blockchain analytics firm Elliptic.&nbsp;
Elliptic's&nbsp;<a style="text-decoration:none" href="https://www.elliptic.co/blog/235-million-lost-by-wazirx-in-north-korea-linked-breach">analysis</a> has linked the attack to techniques previously associated with the North Korean hacker group Lazarus. The use of TornadoCash, a privacy tool for cryptocurrencies, to obscure transactions mirrors tactics seen in previous Lazarus-led hacks.&nbsp;
&nbsp;
Deddy Lavid, CEO of Cyvers Alert, emphasized similarities to Lazarus Group's modus operandi, raising concerns about the group's involvement in the WazirX exploit.
<h2 dir="ltr" id="span-span-hack-unfolded-with-precision-span-span">Hack Unfolded With ‘Precision’</h2>
The hack&nbsp;<a style="text-decoration:none" href="https://x.com/Mudit__Gupta/status/1813881385800913327">unfolded</a> with calculated precision, starting its ominous path at least 8 days before its execution according to Polygon Labs' Chief Information Security Officer, Mudit Gupta. Gupta described the attack as methodical, pointing to the Democratic People's Republic of Korea (DPRK) as the likely culprit.&nbsp;
&nbsp;
The hackers reportedly exploited vulnerabilities in WazirX's multi-signature wallet, upgrading it to a malicious version that facilitated the unauthorized transfer of over $235 million in various cryptocurrencies.
&nbsp;
The aftermath of the attack revealed a vast array of cryptocurrencies stolen, including approximately $96.7 million worth of Shiba Inu (SHIB), $52.6 million in Ethereum (ETH), $11 million in Polygon's MATIC, and $7.6 million in memecoin Pepe. The hacker’s wallet holds&nbsp;<a style="text-decoration:none" href="https://debank.com/profile/0x04b21735e93fa3f8df70e2da89e6922616891a88/">$72.4 million in assets</a> at the time of writing.&nbsp;
<h2 dir="ltr" id="span-span-response-and-recovery-efforts-span-span">Response and Recovery Efforts</h2>
In response to the breach, Arkham, a prominent player in the crypto security space, announced a bounty of 5000 ARKM coins. This initiative aims to incentivize efforts to identify the hacker or recover the stolen funds.&nbsp;
&nbsp;
ZachXBT, a renowned crypto detective, has already contributed evidence towards identifying the hackers, showcasing the community's solidarity in tackling such incidents.
&nbsp;
Lazarus Group has gained notoriety for its persistent targeting of the cryptocurrency sector, with Chainalysis estimating its ill-gotten gains to exceed&nbsp;<a style="text-decoration:none" href="https://www.wsj.com/articles/how-north-koreas-hacker-army-stole-3-billion-in-crypto-funding-nuclear-program-d6fe8782">$3 billion</a> over the past five years.&nbsp;

North Korean Hackers Suspected in $235M WazirX Crypto Heist

Table of Contents

BSCN

Egyéb ezen a dátumon (2024. júl. 26.) megosztott cikkek

SEC Chairman Gary Gensler May Resign as Trump Readies for 2025 Presidential Term

Do Dogecoin and Shiba Inu Still Have It? Experts Predict the Next 10,000% Surge Stories in These ...

Ethereum Spot ETFs Debut in U.S. Exchanges, Supported by Major Issuers

Polygon Integrates with Farcaster Frames: New Onchain Capabilities Unveiled

Rho Markets Hit by $7.5M Hack, Attackers Demand Admission of Oracle Error for Fund Return

AAVE Token Sees Significant Price Increase

Join our free newsletter for daily crypto updates!