WazirX crypto exchange hacked, funds worth $234 million transferred: Report

WazirX crypto exchange hacked: India’s largest crypto exchange WazirX has been hacked and the total cryptocurrencies worth more than $1,900 crore have been transferred to an anonymous wallet address. Republic Business has reached out to the crypto exchange to confirm the total loss from the breach but the exchange is yet to respond. 

The hacker has swapped the Tether USDT tokens, Pepe tokens, and GALA into Ether. 

According to the blockchain data, the Mumbai-based crypto exchange’s safe multi-sig wallet on the Ethereum blockchain network network has been compromised. In a multi-signature wallet, the permission of multiple stakeholders is required before any transaction can be executed. 

Reacting to the incident, WazirX has acknowledged the data breach and reported an active investigation into the incident. WazirX tweeted, “We're aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident.” 

WazirX halts withdrawals

The crypto exchange has halted all withdrawals including INR deposits and all cryptocurrencies citing the need to secure the assets. 

“To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused. Thank you for your patience and understanding. We'll keep you posted with further updates,” WazirX said. 

According to media reports, each transaction is being funded by Tornado Cash which means the hacker is using the crypto mixer to remove the background 

Which cryptocurrencies got hacked from WazirX? 

Media reports indicate that the address holdings comprised approximately $100 million in Shiba Inu (SHIB), $52 million in Ethereum (ETH), and $11 million in Polygon (MATIC). 

Additionally, it held $4.7 million in Floki (FLOKI), $3.2 million in Fantom (FTM), $2.8 million in Chainlink (LINK), and $2.3 million in Fetch.ai (FET), with the remaining funds distributed across a variety of other tokens.