WazirX, a major Indian cryptocurrency exchange, has suffered a significant hack. The exchange confirmed a security breach after hackers stole over $234 million worth of cryptocurrencies.
Image Source: CoinRocco.com
The stolen funds were transferred to a new wallet address in a series of suspicious transactions. Each transaction’s caller is funded by Tornado Cash.
The wallet "0x04b2" has already sold $7.6 million worth of PEPE and exchanged GALA and USDT for $ETH .
The stolen cryptocurrencies included a variety of digital assets, with Shiba Inu being the most substantial loss with over $100 million taken out. This was followed by $52 million in Ether (ETH), $11 million in Matic (MATIC), and $6 million in Pepe (PEPE).
The hacker has already started dumping these assets. WazirX has temporarily suspended withdrawals to prevent further losses while they investigate the incident.
This hack comes at a challenging time for the Indian crypto industry, which is facing increased regulatory scrutiny and declining trading volumes.
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