Cryptocurrency hackers have stolen $235 million worth of bitcoin assets from WazirX, the top cryptocurrency exchange in India, following a breach in the exchange’s wallet security.
Blockchain security company Cyvers Alerts discovered the crime and shared the information on X after attempting to notify the WazirX team.
The sum that has been moved was mentioned in the tweet, along with the fact that Crypto Mixer Tornado cash was used to finance the hackers’ activities.
“ALERT
Hey @WazirXIndia Our system has detected multiple suspicious transactions involving your Safe Multisig wallet on the #ETH network. A total of $234.9M of your funds have been moved to a new address. Each transaction’s caller is funded by@TornadoCash.
“The suspicious address has already swapped $PEPE, $GALA, and $USDT to $ETH and continues to swap other digital assets. We attempted to contact you 30 minutes ago but received no response.
“It appears that your Safe wallet has been compromised by a malicious actor!” Cyvers Alert tweeted.”
The Cyvers alerts system detected multiple transactions by supposed hostile actors targeting WazirX’s Ethereum-based Safe Multisig wallet in the early hours of today.
the Cyvers alerts security team tried to notify WazirX of the incident, minutes before their post but got no response.
The malicious actors successfully drained $234.9 million worth of cryptocurrency from the Safe Multisig wallet and converted the stolen Pepe (PEPE), Gala (GALA), and Tether (USDT) to ether (ETH).
The hackers have since concluded more swaps. Other stolen crypto assets include Polygon (MATIC), Floki Inu (FLOKI), Shiba Inu (SHIB), 1Inch (1INCH), Uniswap (UNI), and the FTX Token.
Crypto analyst and Blockchain investigator ZachXBT revealed the address of the hackers and showed that the hackers still held about $224 million worth of tokens at the time of the report.
$139 million worth of ETH is the biggest token in the pilfered collection.
However, the WazirX team has notified their community of the steps they have taken and begun a thorough investigation into the alleged incident.
They have also halted crypto withdrawals for the moment to secure assets, contain the incident and mitigate losses.
The WazirX team shared their plans with their X community asking for their patience and understanding.
“Update: We’re aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident. 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 tweeted.
