Indian exchange wazirX reportedly hacked for around $230 and suspends all withdrawals for users on the exchange.
Author: Sahil Thakur
Written On: Thu, 18 Jul 2024 09:13:15 GMT
On July 18, Cyvers Alert reported that Web3 security firm Cyvers detected “multiple suspicious transactions” involving WazirX’s Safe Multisig wallet on Ethereum. They believe that $234.9 million of funds were moved to a new address, with each transaction’s caller funded by Tornado Cash, a decentralized protocol for private transactions. The new address has already converted Tether ($USDT), Pepe ($PEPE), and Gala ($GALA) into Ether ($ETH).
In response to the security breach, WazirX has temporarily halted cryptocurrency and INR withdrawals on its platform. In an X post, the WazirX team stated they are “actively investigating the incident” and will provide updates as the situation develops.
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