Key Takeaways:
$234.90 Million Stolen: A security breach at WazirX led to the theft of $234.90 million worth of cryptocurrency.
Major Assets Affected: Significant amounts of SHIB, ETH, PEPE, and other assets were transferred to unknown wallets.
Security Measures Under Scrutiny: WazirX’s security practices and response capabilities are being questioned following the hack.
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YEREVAN (CoinChapter.com) — A massive security breach has hit WazirX, India’s largest cryptocurrency exchange. Cyvers Alert reported suspicious transactions involving the exchange’s Safe Multisig wallet on the ETH network. These transactions moved $234.90 million worth of funds to a new address. The transactions were executed by entities funded through Tornado Cash, a notorious crypto mixer.
$234.9M WazirX Hack Alert. Source: Cyvers Alerts
The compromised address has been actively swapping various digital assets, including PEPE, GALA, and USDT, for ETH.
Hack Dashboard: $234.9M Lost. Source: Cyvers Alerts All Stolen Cryptos From WazirX Hack On Move
Whale Alert initially identified these colossal transfers. A specific withdrawal of 5.4 trillion SHIB, valued at $102.13 million, was moved from WazirX to an unknown wallet. Further analysis by Lookonchain revealed the total stolen cryptocurrency includes 5.43 trillion SHIB ($102 million), 15,298 ETH ($52.5 million), 20.5 million MATIC ($11.24 million), 640.27 billion PEPE ($7.6 million), 5.79 million USDT, and 135 million GALA ($3.5 million).
WazirX Wallet Drain: $230M Transfer Alert. Source: Lookonchain
This significant hack has put the exchange’s security measures under scrutiny. The platform’s inability to respond promptly raises concerns about the safety of users’ funds.
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