Crypto Exchange WazirX Suffers Major Security Breach
WazirX, a major Indian crypto exchange, has confirmed that it was the victim of a security breach on Thursday, with approximately $230 million in assets being “suspiciously transferred” out of the platform. The breach involved a multisig wallet, which requires multiple private keys for authentication.
Details of the Breach
* The breach was identified as involving one of WazirX’s Liminal multisig wallets.
* The attackers have been identified as having ties to North Korea, according to risk-management platform Elliptic.
* The stolen assets include a variety of cryptocurrencies, including **SHIB, Ethereum, Matic, Pepe, USDT, and Gala tokens.**
* The attackers are attempting to liquidate the stolen assets through the decentralized exchange Uniswap.
* Liminal, the wallet infrastructure provider, has stated that its platform was not breached and its own assets remain secure.
Impact on WazirX
The stolen $230 million represents a significant portion of WazirX’s holdings, which were reported to be around $500 million in June. The exchange has temporarily paused all withdrawals as it investigates the breach and works to recover the stolen funds.
This event serves as a stark reminder of the security risks inherent in the crypto space. It also highlights the importance of robust security measures and ongoing vigilance against sophisticated threats.
This incident is a reminder for crypto users to exercise caution and prioritize security when engaging with any platform.
