A hacker has penetrated WazirX and moved $234.9 million worth of tokens to a new address, converting some to ETH.
Indian crypto exchange WazirX has been hit by a massive hack on its Ethereum-based Safe Multisig Wallet. The hacker has brazenly stolen USDT, Pepe, Shiba, Ethereum, Floki, and Matic, a staggering combined value of about $235M from the exchange. WazirX has suspended crypto and Indian rupee withdrawals from the exchange as it investigates the hack.
WazirX Loses $235M
Starting Thursday morning, on-chain security firm CyversAlerts noticed suspicious transactions involving WizarX. the biggest crypto exchange in India, and has reached out to the company via a post on X (formerly Twitter). Cyvers revealed that TornadoCash, a decentralized protocol for private transactions on Ethereum, funds each transaction caller.
WazirX confirmed on Thursday morning that the exchange had suffered a security breach on one of its multisig wallets, resulting in a loss of approximately $235 million. The exchange hasn’t revealed whether the affected funds are customers’ or the company’s reserve assets.
Following the hack announcement, WazirX’s token, WRX, has plummeted by about 15% as its investors fear what may follow.
According to data from Lookonchain, the exploiter has stolen 5.43T Shiba Inu worth $102 million, 15,298 ETH worth $52.5 million, 20.3M Matic worth $11.24 million, 640.27B Pepe worth $7.6 million, 5.79M USDT and 135M Gala worth $3.5 million, 78.5M Jasmy worth $2.26 million, and many other altcoins.
The hacker wallet “0x04b2” is actively selling the stolen tokens. As revealed by Cyvers, The hacker has swapped $PEPE, $GALA, and $USDT to $ETH and continues to swap other stolen assets.
The hacker has yet to offload about $200 million worth of tokens, including $100 worth of Shib, over $4.7 million of Floki, and a variety of stolen cryptocurrencies.
WazirX Takes Action Against Hack
After confirming the exploit, the hacked Indian exchange revealed that it had started an active investigation into the hack. It promised to actively inform the community of the latest updates on investigation reports.
Additionally, to ensure the safety of customer funds, WazirX has halted the withdrawal of Indian Rupees (INR) and cryptocurrencies from the exchange.
Cryptocurrency hackers are actively exploiting many exchanges and protocols. On Wednesday, hackers breached Li.Fi protocol, stealing about $8 million.