Indian cryptocurrency exchange WazirX has just fallen victim to a serious cyber attack, resulting in approximately $235 million in cryptocurrency stolen from the Safe Multisig Multisignature wallet on Ethereum.
Security firm Web3 Cyvers detected “multiple suspicious transactions” related to WazirX 's Safe Multisig wallet on Ethereum on July 18. According to the post on X (formerly Twitter), about $234.9 million in Indian cryptocurrency exchange Safe Multisig wallet has been moved to a new address. Every transaction is made through Tornado Cash, a decentralized protocol for anonymous transactions.
The receiving address quickly converted the stolen assets, including Tether (USDT), PEPE (PEPE), and Gala (GALA) to Ether (ETH). The main attacker's address is said to still hold over $104 million, mainly Shiba Inu (SHIB) worth around $100 million, $52 million in ETH , and $11 million in Polygon (Matic). In addition, it also contains 4.7 million USD FLOKI, 3.2 million USD Fantom (FTM), 2.8 million USD Chainlink (LINK), 2.3 million USD Fetch.ai (FET) and the remaining amount is distributed Complementary to many other Token .
Responding to the incident, WazirX has suspended cryptocurrency and INR withdrawal services on its platform. On the official X account, the WazirX team said they are investigating the incident and will update users with the latest information.
The attack on WazirX is a wake-up call for cryptocurrency exchanges about the importance of ensuring cybersecurity, especially in the context of cyberattacks becoming increasingly sophisticated.
In just the last few months, many other cryptocurrency platforms have also become targets of hackers. These include the attack on Atomic Wallet that caused users to lose more than 35 million USD in June 2023, or the attack that exploited vulnerabilities on the Euler Finance DeFi protocol with losses of up to 196 million USD in March. /2023.
These incidents show that, despite the promise of breakthrough growth, the cryptocurrency market still has many potential security risks. Exchanges need to constantly improve their security systems, and users also need to increase vigilance and equip themselves with knowledge to protect their assets.
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