- WazirX experienced a security breach, losing over $230 million in cryptocurrencies.
- Stolen funds are being funneled through Tornado Cash.
- The hacker has begun selling the stolen assets.
India’s largest crypto exchange, WazirX, has suffered a major hack resulting in the loss of over $230 million in cryptocurrencies.
The exchange disclosed the breach early Thursday, announcing the temporary suspension of Indian Rupee (INR) and crypto withdrawals to protect user funds during the investigation. WazirX said:
“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.”
Blockchain security alert platform Cyvers Alerts initially reported the news on X (formerly Twitter) after detecting suspicious transactions on the ETH network involving WazirX’s Safe Multisig wallet.
The hacker reportedly sent the stolen coins to another address through Tornado Cash, an open-source privacy tool, before swapping them for ETH. The Cyvers Alerts team claimed to have attempted contact with the exchange but received no response.
According to on-chain reporter LookOnChain, the hacker stole 5.43 trillion ($102 million) SHIB, 15,298 ($52.5 million) ETH, and 20.5 million MATIC worth $11.24 million. Other stolen funds include 640.27 billion PEPE worth $7.6 million, 5.79 million USDT, and 135 million ($3.5 million) Gala tokens.
Per further reports from LookOnChain, the WazirX hacker began selling these tokens. As of press time, the hacker has sold 35 billion SHIB worth $618,000, with about 5.4 trillion SHIB ($95.45 million) remaining in their possession. PeckShieldAlert also revealed that the hacker sent 110 million DENT to crypto exchange ChangeNow and initiated gas transactions from Binance through a related wallet.
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