Indian crypto exchange WazirX has suffered a significant security breach, resulting in the loss of over $230 million worth of assets. This breach involved unauthorized transfers from a multisignature wallet, affecting cryptocurrencies like Shiba Inu (SHIB), Pepe Coin (PEPE), Ethereum (ETH), and Polygon (MATIC).
WazirX has paused all withdrawals to protect user assets. The compromised wallet has been actively dumping the stolen assets, including 640.27 billion PEPE tokens valued at approximately $7.6 million, 20.5 million MATIC tokens worth $11.2 million, 5.4 trillion SHIB tokens valued at $102.1 million, and 15,298 ETH worth $52.5 million.
This incident raises significant concerns about the security of cryptocurrency exchanges. Despite the breach, WazirX has assured users that their funds are safe. The hack highlights the critical need for enhanced security measures in the crypto industry, underscoring the importance of safeguarding digital assets against cyber-attacks.
