WazirX Suffers $230M Hack, Suspends Withdrawals Amid Security Breach

Indian cryptocurrency exchange WazirX has reportedly been hacked, resulting in losses exceeding $230 million.

What Happened: The incident, revealed by blockchain investigator ZachXBT on Thursday, identifies the main theft address as 0x04…1a88.

The attacker currently holds over $100 million worth of Shiba Inu SHIB/USD and more than $4.7 million worth of Floki FLOKI/USD for sale.

Blockchain analytics firm Lookonchain provided further details on the extent of the hack.

The stolen assets include 5.43 trillion SHIB, valued at approximately $102 million, 15,298 Ethereum ETH/USD worth around $52.5 million, and 20.5 million Polygon MATIC/USD tokens valued at $11.24 million, among other cryptocurrencies.

In response to the security breach, WazirX acknowledged that a vulnerability in one of its multi-signature wallets had been exploited.

Also Read: Bitwise CIO Matt Hougan: Ethereum To $5,000 In 2024 And $15B In ETF Inflows

The exchange has temporarily suspended both fiat and cryptocurrency withdrawals to safeguard user assets. In a statement on Twitter, WazirX assured users that their team is actively investigating the incident and working to resolve the issue.

“Update: We’re aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident. To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused. Thank you for your patience and understanding. We’ll keep you posted with further updates,” WazirX posted.

This major security incident occurs as the cryptocurrency industry gears up for Benzinga’s Future of Digital Assets conference on Nov. 19.

The event will bring together industry leaders, policymakers, and innovators to discuss the evolving landscape of digital assets and blockchain technology.

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