Cryptocurrency
Security Breach at Indian Crypto Exchange WazirX
Thursday. July 18 at 9:30 PM
1 min. readCyvers, a Web3 security firm, has identified several suspicious transactions involving WazirX's Safe Multisig wallet on Ethereum. Approximately $234.9 million from the Indian exchange's wallet has been transferred to a new address, with funds from Tornado Cash. The transferred assets include Tether, Pepe, and Gala, which were converted to Ether. A Telegram post by ZachXBT revealed that the attacker still holds over $104 million. The compromised wallet contained Shiba Inu, ETH, Polygon, FLOKI, Fantom, Chainlink, Fetch.ai, and other tokens. WazirX has halted withdrawals in response to the breach and is investigating the incident. The Indian government's regulatory stance on cryptocurrencies remains uncertain despite ongoing discussions for years. Meanwhile, Riyadh in Saudi Arabia is emerging as a potential hub for crypto activities.