Indian foremost crypto exchanges WazirX has faced hacking which has led to a massive amount of $234 million to be stolen. This hacking was confirmed by Wazir X and with this they have temporarily announced the suspension of exchange withdrawals due to this problematic situation.
Wazir X also faced suspicious transactions even before the hacking which was reported by block chain security platform known as cyvers alert involving WazirX’s Safe Multisig wallet on the Ethereum network.
They tweeted that “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.
As the report suggests, almost $234.9 million were moved to a new address. These transactions were made through Tornado cash. After that the hacker exchanged different digital assets including USDT,GALA etc.
What Currencies Have Been Stolen?
The stolen funds include 5.43 trillion SHIB which is valued at $102 million 15,298 ETH which is worth $52.5 million. Additionally, 20.5 million MATIC which is worth $11.24 million, and 640.27 billion PEPE which is valued at $7.6 million were taken. The thief also took 5.79 million USDT and 135 million GALA which was worth $3.5 million. Shockingly, this isn’t all. The attacker still holds over $100 million in SHIB and over $4.7 million in FLOKI which is ready to be sold. Approximately, $234 million has been stolen from WazirX – India’s most popular crypto exchange.
Update By Wazir X
WazirX confirmed the hack on their official Twitter account. They said they are aware of the security breach. Their team is working hard to investigate the situation. To keep user funds safe, both fiat and crypto withdrawals have been temporarily paused. WazirX thanks users for their patience. They promise to give more updates as information becomes available.
This event shows the risks and challenges in securing digital assets. The WazirX incident is a warning to other exchanges. They need to always check and improve their security measures.
Read Also: Current Status of Hacked WazirX User Funds, $206M worth of ETH Track
People Reaction To This
A person stated on his X account that “This will be the end of Wazirx”. Another person added that “Not your keys,not your coins”. Some people even said that “Never trust Indian exchanges. I repeat never”. Some people are even happy that their money was saved as it was a small amount. They said that “Hacker didn’t touch my INR 1500 LMAO” Some are asking the company who will cover their loss “Who will take the loss? Shetty?”
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