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WazirX Crypto Exchange Tokens Worth $230 Million Hacked, Hacker Started Selling Tokens
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 million15,298 $ETH worth $52.5 million20.5 million $MATIC worth $11.24 million640.27 billion worth $7.6 million5.79 million $USDT135 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 depositRevealing the identity of the hackerSuccessfully 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.
To get more updates, visit us at: https://coinsprobe.com/
#WazirXHacked #WRX #HACK
5.43 trillion $SHIB worth $102 million15,298 $ETH worth $52.5 million20.5 million $MATIC worth $11.24 million640.27 billion worth $7.6 million5.79 million $USDT135 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 depositRevealing the identity of the hackerSuccessfully 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.
To get more updates, visit us at: https://coinsprobe.com/
#WazirXHacked #WRX #HACK
Hacker Dumping $234M from WazirX Crypto Exchange
Web3 security company Cyvers and ZachXBT reveal a possible attack of Indian crypto exchange WazirX. Cyvers warned WazirX on X, “Our system has detected multiple suspicious transactions involving your Safe Multisig wallet on the ETH network.”
Over $230 million stolen from WazirX
According to the X post, $234.9 million from the WazirX Safe Multisig wallet was moved to a new address. Tornado Cash, a decentralized mechanism for private transactions, financed each transaction's caller.
Cyvers said the hacker's address started crypto exchanges. Cyvers says, “The suspicious address has swapped PEPE, GALA, and USDT to ETH and continues to swap other digital assets.”
ZachXBT said in a Telegram message in the “Investigations by ZachXBT” channel that the attacker's address still has over $100 million to dump. ZachXBT says, “the Attacker still has $100M+ worth of SHIB and $4.7M+ FLOKI to sell.”
On-chain data shows the attacker possessed $100 million in Shiba Inu, $52 million in ETH, and $11 million in Polygon. The wallet address holds $3.2 million Fantom, $2.3 million Fetch.ai, $4.7 million FLOKI, and $2.8 million Chainlink.
Unlike other hackers who returned assets to exchanges, the WazirX hacker shows no remorse. The hacker made $618K in $SHIB in their first transaction within hours.
Lookonchain data shows the hacker has 5.4T $SHIB, worth over $95M.
The WazirX team halted crypto and INR withdrawals after the security compromise. X post WazirX said the team is “actively investigating the incident.”
WazirX said, “We’re aware that one of our multisig wallets has experienced a security breach. We are investigating the situation. To protect your valuables, INR and crypto withdrawals will be halted. I appreciate your patience. Future updates will be provided.”
#HACK #WazirX
Web3 security company Cyvers and ZachXBT reveal a possible attack of Indian crypto exchange WazirX. Cyvers warned WazirX on X, “Our system has detected multiple suspicious transactions involving your Safe Multisig wallet on the ETH network.”
Over $230 million stolen from WazirX
According to the X post, $234.9 million from the WazirX Safe Multisig wallet was moved to a new address. Tornado Cash, a decentralized mechanism for private transactions, financed each transaction's caller.
Cyvers said the hacker's address started crypto exchanges. Cyvers says, “The suspicious address has swapped PEPE, GALA, and USDT to ETH and continues to swap other digital assets.”
ZachXBT said in a Telegram message in the “Investigations by ZachXBT” channel that the attacker's address still has over $100 million to dump. ZachXBT says, “the Attacker still has $100M+ worth of SHIB and $4.7M+ FLOKI to sell.”
On-chain data shows the attacker possessed $100 million in Shiba Inu, $52 million in ETH, and $11 million in Polygon. The wallet address holds $3.2 million Fantom, $2.3 million Fetch.ai, $4.7 million FLOKI, and $2.8 million Chainlink.
Unlike other hackers who returned assets to exchanges, the WazirX hacker shows no remorse. The hacker made $618K in $SHIB in their first transaction within hours.
Lookonchain data shows the hacker has 5.4T $SHIB, worth over $95M.
The WazirX team halted crypto and INR withdrawals after the security compromise. X post WazirX said the team is “actively investigating the incident.”
WazirX said, “We’re aware that one of our multisig wallets has experienced a security breach. We are investigating the situation. To protect your valuables, INR and crypto withdrawals will be halted. I appreciate your patience. Future updates will be provided.”
#HACK #WazirX
ZachXBT suspects Lazarus Group in $230M WazirX hack
Blockchain hacks are common, and WazirX, a big Indian crypto exchange, was the victim. The $230 million breach probe, led by cybersecurity specialist ZachXBT, revealed specific information that highlight crypto ecosystem weaknesses.
The 10 July transactions were test runs using SHIB tokens to confuse origins and intents. These transactions were funded by numerous 0.1 ETH withdrawals from Tornado Cash, a prominent privacy-focused cryptocurrency mixing service used by hackers to create untraceable transactions.
Bitcoin transfers, which funded the operation, came from an unnamed service. Without transparency, tracing attempts were limited, making it difficult to identify the attack's victims.
Implications and Security
ZachXBT notes that the WazirX hack's initial use of Bitcoin resembles the Lazarus Group's cyber operations, which have targeted financial institutions and cryptocurrency exchanges.
Lazarus Group techniques, such constructing a network of transactions to mislead analysts with privacy-centric services like Tornado Cash, are similar. This revelation raises concerns about hackers' emerging crypto security exploits.
WazirX has promised to disclose internal investigative results after the incident. The exchange halted withdrawals to avoid additional hacks. Their proactive approach to sharing information and collaborating with authorities helps mitigate the crisis and recover user confidence.
The incident emphasises bitcoin sector openness and responsibility. WazirX hopes to reassure consumers and strengthen cyberdefenses by transparently resolving flaws and improving security.
Cryptocurrency Security Future
Crypto sector stakeholders should implement strict security standards to protect user assets and digital financial systems. Cryptocurrency exchanges and service providers should prioritize user asset security. By following best practices and adopting strong security frameworks, stakeholders may reduce risks and improve trade security.
#HACK #WazirX
Blockchain hacks are common, and WazirX, a big Indian crypto exchange, was the victim. The $230 million breach probe, led by cybersecurity specialist ZachXBT, revealed specific information that highlight crypto ecosystem weaknesses.
The 10 July transactions were test runs using SHIB tokens to confuse origins and intents. These transactions were funded by numerous 0.1 ETH withdrawals from Tornado Cash, a prominent privacy-focused cryptocurrency mixing service used by hackers to create untraceable transactions.
Bitcoin transfers, which funded the operation, came from an unnamed service. Without transparency, tracing attempts were limited, making it difficult to identify the attack's victims.
Implications and Security
ZachXBT notes that the WazirX hack's initial use of Bitcoin resembles the Lazarus Group's cyber operations, which have targeted financial institutions and cryptocurrency exchanges.
Lazarus Group techniques, such constructing a network of transactions to mislead analysts with privacy-centric services like Tornado Cash, are similar. This revelation raises concerns about hackers' emerging crypto security exploits.
WazirX has promised to disclose internal investigative results after the incident. The exchange halted withdrawals to avoid additional hacks. Their proactive approach to sharing information and collaborating with authorities helps mitigate the crisis and recover user confidence.
The incident emphasises bitcoin sector openness and responsibility. WazirX hopes to reassure consumers and strengthen cyberdefenses by transparently resolving flaws and improving security.
Cryptocurrency Security Future
Crypto sector stakeholders should implement strict security standards to protect user assets and digital financial systems. Cryptocurrency exchanges and service providers should prioritize user asset security. By following best practices and adopting strong security frameworks, stakeholders may reduce risks and improve trade security.
#HACK #WazirX
