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WazirX

WazirX India, one of the country's leading cryptocurrency exchanges, may have been compromised, with $234.9 million potentially stolen. Cyvers Alerts, a cybersecurity monitoring service,&nbsp;<a style="text-decoration:none" href="https://x.com/CyversAlerts/status/1813834131165286464" rel="noopener noreferrer nofollow">sounded the alarm</a>, noting multiple suspicious transactions involving WazirX's Safe Multisig wallet on the Ethereum network.
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 <blockquote class="twitter-tweet">
 🚨ALERT🚨Hey <a href="https://twitter.com/WazirXIndia?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@WazirXIndia</a>, Our system has detected multiple suspicious transactions involving your Safe Multisig wallet on the <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETH</a> network. A total of $234.9M of your funds have been moved to a new address. Each transaction's caller is funded by <a href="https://twitter.com/TornadoCash?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TornadoCash</a>. The suspicious… <a href="https://t.co/4sajAwd4Hb" rel="noopener noreferrer nofollow">pic.twitter.com/4sajAwd4Hb</a>— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) <a href="https://twitter.com/CyversAlerts/status/1813834131165286464?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 18, 2024</a>
 </blockquote>
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According to Cyvers Alerts, the stolen funds were moved to a new address, with each transaction being funded by TornadoCash, a known cryptocurrency mixer often used to obscure transaction trails.&nbsp;
&nbsp;
The suspicious address has already converted assets like $PEPE, $GALA, and $USDT into Ethereum (ETH) and continues to swap other digital assets.
<h2 dir="ltr" id="span-span-hackers-holdings-span-span">Hackers' Holdings</h2>
According to&nbsp;<a style="text-decoration:none" href="https://debank.com/profile/0x04b21735e93fa3f8df70e2da89e6922616891a88/" rel="noopener noreferrer nofollow">on-chain data</a>, the hacker still holds $$206,807,656
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Reports indicate that the hacker currently holds:
<ul>
 <li>$96.12 million in Shiba Inu (SHIB)</li>
 <li>$52.52 million in Ethereum (ETH)</li>
 <li>$9.8 million in MATIC</li>
 <li>$4.6 million in SHIB&nbsp;</li>
 <li>$3.2M in FTM&nbsp;</li>
 <li>$2.8M in LINK</li>
 <li>$2.3M in FET</li>
 <li>$2.2M in JASMY and more</li>
</ul>
Alpha Research further reveals that attackers are actively selling the assets&nbsp;
<h2 dir="ltr" id="span-span-wazirx-s-response-and-market-impact-span-span">WazirX's Response and Market Impact</h2>
In response to the breach, WazirX&nbsp;<a style="text-decoration:none" href="https://x.com/WazirXIndia/status/1813843289940058446" rel="noopener noreferrer nofollow">stated</a> they are aware of the security breach.&nbsp;
&nbsp;
WazirX issued a statement:&nbsp;
&nbsp;
<blockquote>
 "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."
</blockquote>
The news has already impacted the market. SHIB's price fell by 6%, and FLOKI dropped by 2% following the announcement. This incident highlights a growing trend where cryptocurrency exchanges become prime targets for hackers.
<h2 dir="ltr" id="span-span-recent-exchange-hacks-span-span">Recent Exchange Hacks</h2>
This breach is the latest in a series of high-profile exchange hacks. On May 31, 2024, DMM Bitcoin, a prominent Japanese cryptocurrency exchange,&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/japanese-crypto-exchange-dmm-bitcoin-loses-350-m-in-hack" rel="noopener noreferrer nofollow">experienced</a> a significant security breach, losing approximately $305 million worth of Bitcoin (BTC).&nbsp;
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The unauthorized leakage involved 4,502.9 BTC, which the hacker divided across 10 wallets in batches of 500 BTC. DMM Bitcoin has since taken measures to prevent further unauthorized outflows and has restricted all spot buys on the platform.

WazirX India Suspends Withdrawals After $234.9M Theft Reported

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