WazirX Hack: Indian Crypto Exchange Suffers $230M Exploit, Pauses Withdrawals

Indian crypto exchange WazirX has experienced a significant security breach. The WazirX multisig wallet hack has resulted in the abnormal transfer of assets worth more than $230 million. Moreover, the assets affected include, Shiba Inu (SHIB), Pepe Coin (PEPE), Ethereum (ETH), and Polygon (MATIC).

WazirX Pauses Withdrawals Amid Wallet Hack

According to WazirX, the breach involved the unauthorized transfer of funds from one of their multisignature wallets. The transfers were made to an unknown wallet labeled “0x04b2,” as per reports from Lookonchain, a blockchain tracking platform. Hence, in an official statement posted on X, WazirX addressed the incident.

They wrote, “Update: 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.”

The compromised wallet has since been actively dumping the stolen assets. Notably, the wallet has offloaded 640.27 billion PEPE tokens, valued at approximately $7.6 million. In addition to the PEPE tokens, the breached wallet has transferred substantial amounts of other cryptocurrencies.

This includes 20.5 million MATIC tokens worth $11.2 million. Moreover, staggering 5.4 trillion SHIB tokens valued at $102.1 million were shifted amid the WazirX wallet hack. Moreover, 15,298 ETH, equivalent to $52.5 million was also compromised. These transfers have raised significant concerns for the exchange’s users as they worried about the safety of their funds. Nonetheless, WazirX has assured user funds safety.

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