$230 Million Hack Hits India’s Largest Crypto Exchange: SHIB and PEPE Targeted

Key Takeaways:

1. $234.90 Million Stolen: A security breach at WazirX led to the theft of $234.90 million worth of cryptocurrency.
2. Major Assets Affected: Significant amounts of SHIB, ETH, PEPE, and other assets were transferred to unknown wallets.
3. Security Measures Under Scrutiny: WazirX’s security practices and response capabilities are being questioned following the hack.

YEREVAN (CoinChapter.com) — A massive security breach has hit WazirX, India’s largest cryptocurrency exchange. Cyvers Alert reported suspicious transactions involving the exchange’s Safe Multisig wallet on the ETH network. These transactions moved $234.90 million worth of funds to a new address. The transactions were executed by entities funded through Tornado Cash, a notorious crypto mixer.

The compromised address has been actively swapping various digital assets, including PEPE, GALA, and USDT, for ETH.

All Stolen Cryptos From WazirX Hack On Move

Whale Alert initially identified these colossal transfers. A specific withdrawal of 5.4 trillion SHIB, valued at $102.13 million, was moved from WazirX to an unknown wallet. Further analysis by Lookonchain revealed the total stolen cryptocurrency includes 5.43 trillion SHIB ($102 million), 15,298 ETH ($52.5 million), 20.5 million MATIC ($11.24 million), 640.27 billion PEPE ($7.6 million), 5.79 million USDT, and 135 million GALA ($3.5 million).

This significant hack has put the exchange’s security measures under scrutiny. The platform’s inability to respond promptly raises concerns about the safety of users’ funds.

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