WazirX Hack Mystery Deepens: Bounty Offered as Experts Suspect North Korea in $235M Exploit
Earlier today, WazirX, a prominent Indian cryptocurrency exchange, suffered a severe security breach resulting in the loss of approximately $235 million in crypto assets, with suspicions pointing towards North Korean hackers.
Blockchain analysis firm Elliptic reported that the breach encompassed more than 200 different assets, including significant amounts such as $96.7 million worth of Shiba Inu (SHIB), $52.6 million in Ether (ETH), $11 million in Matic (MATIC), and $7.6 million in Pepe (PEPE).
The hacker responsible for the breach has wasted no time in laundering the stolen assets, swiftly converting many of the tokens into Ether using various decentralized services.
Cyvers Alert first detected suspicious transactions involving WazirX’s Safe Multisig wallet on the Ethereum blockchain on July 18, 2024.
These transactions totaled approximately $234.9 million and were swiftly moved to a new address. Each transaction caller was funded through Tornado Cash, a decentralized protocol for private transactions.
According to Lookonchain data, the stolen assets include over $100 million in Shiba Inu (SHIB), $52 million in Ether (ETH), $11 million in Matic (MATIC), and $6 million in Pepe (PEPE). The hacker’s ongoing efforts to liquidate these assets pose significant concerns.
Update:#WazirX has ~$230M in assets stolen. Including:
5.43T $SHIB($102M)
15,298 $ETH($52.5M)
20.5M $MATIC($11.24M)
640.27B $PEPE($7.6M)
5.79M $USDT
135M $GALA($3.5M)
…
‼️Please note that the hacker is selling these assets!https://t.co/1uOozAVeM1 https://t.co/ogtVSFITK9 pic.twitter.com/3vPmxqXwbL
— Lookonchain (@lookonchain) July 18, 2024
The latest Proof of Reserve report from WazirX indicated total holdings slightly above $502 million, highlighting the substantial impact
Read more on cryptonews.com
