On Thursday, July 18, 2024, India's leading crypto exchange, WazirX $WRX , confirmed a major security breach resulting in a loss of over $230 million. The stolen tokens include a variety of cryptocurrencies such as $SHIB, $ETH, $MATIC, $PEPE, $USDT, and $GALA. Here is a breakdown of the estimated losses:
5.43 trillion $SHIB worth $102 million
15,298 $ETH worth $52.5 million
20.5 million $MATIC worth $11.24 million
640.27 billion worth $7.6 million
5.79 million $USDT
135 million $GALA worth $3.5 million
In response to the breach, WazirX has temporarily suspended withdrawals of both Indian Rupees (INR) and cryptocurrencies to protect user funds while they investigate the incident.
According to data from Lookonchain, the hacker, operating under the wallet address "0x04b2," has already started selling off the stolen assets, including 640.27 billion $PEPE worth $7.6 million and 35B SHIB ($618K) and currently holds 5.4T SHIB $95.45M).
Arkham Intelligence Announced Bounty Program
To help track down the hacker, Arkham Intelligence has announced a bounty program called "New Intel Exchange Bounty: $235M WazirX Hack."
Source: Arkham
This program offers rewards for:
Identifying a Know Your Customer (KYC) centralized exchange deposit
Revealing the identity of the hacker
Successfully recovering the stolen funds
All information submitted will be shared with the WazirX team to assist in their investigation and recovery efforts- stated by Arkham.
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