WazirX Suffers Major Hack, Loses Almost Half Its Reserves
WazirX, India’s biggest crypto exchange, has been hit by a major hack that resulted in the loss of approximately $230 million. This is a significant blow to the platform, representing almost half of its reported reserves.
What Happened?
The hack occurred in the early hours of Thursday, July 18th, and involved a discrepancy between the data displayed on Liminal’s interface and the actual transaction contents. This mismatch allowed attackers to gain control of a multi-signature wallet holding a substantial portion of WazirX’s assets.
What Was Stolen?
The stolen funds include over 200 cryptocurrencies, with some of the most notable being:
- 5.43 billion SHIB tokens
- Over 15,200 Ethereum tokens
- 20.5 million Matic tokens
- 640 billion Pepe tokens
- 5.79 million USDT
- 135 million Gala tokens
Who’s Behind It?
Blockchain sleuth Elliptic has reportedly linked the attack to North Korean hackers. The hack involved the leakage of a private key, granting access to a multi-signature wallet containing a large amount of assets.
The Aftermath
WazirX has halted withdrawals from the platform and is working to recover the stolen funds. They have reached out to concerned wallets for recovery and are collaborating with experts to address the situation.
CoinSwitch and CoinDCX, WazirX’s rivals in the Indian market, have assured their customers that their funds are secure and unaffected by the incident.
WazirX’s History
WazirX separated from Binance, a global crypto giant, in early 2023. The two companies had a public dispute in 2022 regarding ownership, which ultimately led to the termination of their partnership.
The hack highlights the vulnerabilities that exist within the crypto ecosystem and serves as a reminder of the importance of robust security measures.
