Indian exchange WazirX reportedly hacked for $234M

On July 18, Cyvers Alert reported that Web3 security firm Cyvers detected “multiple suspicious transactions” involving WazirX’s Safe Multisig wallet on Ethereum. They believe that $234.9 million of funds were moved to a new address, with each transaction’s caller funded by Tornado Cash, a decentralized protocol for private transactions. The new address has already converted Tether ($USDT), Pepe ($PEPE), and Gala ($GALA) into Ether ($ETH).

• Over $210 million left to offload: According to a Telegram post in the “Investigations by ZachXBT” channel, crypto investigator ZachXBT revealed that the suspected attacker’s primary address still holds over $104 million. The wallet primarily contains approximately $100 million Shiba Inu (SHIB), $52 million ETH, and $11 million Polygon (MATIC). Additionally, it holds $4.7 million FLOKI, $3.2 million Fantom (FTM), $2.8 million Chainlink (LINK), $2.3 million Fetch.ai (FET), and various other tokens.

In response to the security breach, WazirX has temporarily halted cryptocurrency and INR withdrawals on its platform. In an X post, the WazirX team stated they are “actively investigating the incident” and will provide updates as the situation develops.