Crypto exchange WazirX saw over $230 million in withdrawals in early European hours Thursday as a security breach affected one of its wallets, causing the loss of user funds.
"We're aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident," the exchange confirmed in an X post. "To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused."
Early blockchain data tracked by Lookonchain shows over $100 million worth of shiba inu (SHIB) tokens were withdrawn, the most among lost funds, followed by $52 million in ether (ETH), $11 million in Matic's MATIC, and $6 million in pepe (PEPE).
Update:#WazirX has ~$230M in assets stolen. Including:5.43T $SHIB($102M)15,298 $ETH($52.5M)20.5M $MATIC($11.24M)640.27B $PEPE($7.6M)5.79M $USDT135M $GALA($3.5M)...‼️Please note that the hacker is selling these assets!https://t.co/1uOozAVeM1 https://t.co/ogtVSFITK9 pic.twitter.com/3vPmxqXwbL
— Lookonchain (@lookonchain) July 18, 2024
Transactional data shows the exploiter is actively selling the stolen holding using the onchain exchange Uniswap. The exploiter is yet to sell their ETH holdings, and holds over $4.2 million in FLOKI tokens
WazirX is popular among Indian traders and primarily targets the Indian market. It is among the few Financial Intelligence Unit (FIU) registered exchanges in the country, allowing it to offer crypto exchange services to Indian citizens.
CoinGecko data shows WazirX exchanged at least $2.2 million in volumes in the past 24 hours, led by tether (USDT) stablecoins and XRP.
This is a developing story and will be updated.
