WazirX Hack: $230 Million Loss Impacts SHIB, FET, MATIC
India's largest cryptocurrency exchange, WazirX, has suffered a major security breach, losing over $230 million in digital assets. The hack was first reported by Cyvers Alert, which detected a suspicious address swapping various crypto assets for Ethereum (ETH).
Impacted Assets
The assets impacted include Pepe (PEPE), GALA (GALA), Shiba Inu (SHIB), Fantom (FTM), Fetch.ai (FET), Floki Inu (FLOKI), Chainlink (LINK), Polygon (MATIC), and USDT. Notably, the attacker still holds over $100 million in SHIB and $4.7 million in FLOKI, which may be converted to Ether.
Response
WazirX has paused INR and crypto withdrawals and is actively investigating the breach. The attackers are suspected of moving the stolen assets to Tornado Cash, a crypto mixer.
Market Impact
The hack comes as the crypto market shows signs of recovery, potentially causing significant disruption. Impacted assets, especially Shiba Inu, are starting to retract from recent gains.
