According to the cryptocurrency security platform Cyvers Alerts, India’s largest crypto exchange WazirX has fallen victim to a $234.9 million hack. Cyvers Alerts’ system detected multiple suspicious transactions involving the exchange’s Safe Multisig wallet on the Ethereum network.
According to Cyvers Alerts, each transaction’s caller is funded by the crypto mixer Tornado Cash. The malicious actors have already swapped PEPE, GALA, and USDT to Ethereum (ETH), and continue to swap other assets.
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According to the Telegram channel “Investigations by ZachXBT,” the attacker still has over $104 million worth of Shiba Inu (SHIB) and Floki (FLOKI) left, which will probably be sold.
According to an investigation by CoinTelegraph, the receiving wallet had $100 million worth of Shiba Inu (SHIB), $52 million worth of Ethereum (ETH), and $11 million Polygon (MATIC).
Cryptocurrency withdrawals halted on WazirX
The exchange took to X and posted a response acknowledging the security breach. The platform is actively investigating the incident and has halted crypto and INR (Indian Rupee) withdrawals from the platform.
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The platform has also identified two additional smart contract breaches. The team has opened up a secluded website to revoke all approvals. The statement reads, “Your funds are at risk until you revoke.”
