Crypto Platform WazirX Suffers Security Breach, $230 Million Withdrawn

#CryptoPlatformWazirX

Crypto Platform WazirX Suffers Security Breach, $230 Million Withdrawn

Indian crypto exchange WazirX acknowledged in a post on X (formerly Twitter), “We’re aware that one of our multisig wallets has experienced a security breach.” They added that the firm is actively investigating the incident.

Indian crypto exchange WazirX acknowledged in a post on X (formerly Twitter), "We're aware that one of our multisig wallets has experienced a security breach." They added that the firm is actively investigating the incident.

Indian crypto exchange WazirX experienced a security breach early Thursday during European hours, leading to over $230 million in withdrawals and the loss of user funds from one of its wallets.

“We’re aware that one of our multisig wallets has experienced a security breach,” WazirX stated in a post on X (formerly Twitter). “Our team is actively investigating the incident. To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused.”

According to Web3 security firm Cyvers, “multiple suspicious transactions” were detected involving WazirX’s Safe Multisig wallet on Ethereum. Their post on X indicated that $234.9 million of funds in the Safe Multisig wallet were moved to a new address, with each transaction’s caller funded by Tornado Cash, a fully decentralized protocol for private transactions on Ethereum.

The suspicious address has already swapped $PEPE (Pepe), $GALA (Gala), and $USDT (Tether) to $ETH (Ether) and continues to exchange other digital assets,” claimed Cyvers.