Indian cryptocurrency exchange WazirX has experienced a significant security breach, resulting in the loss of over $230 million. The incident was uncovered by blockchain investigator ZachXBT, who identified the main theft address holding substantial amounts of Shiba Inu (SHIB) and other cryptocurrencies. Specifically, the stolen assets include 5.43 trillion SHIB worth approximately $102 million, 15,298 ETH valued at around $52.5 million, and 20.5 million MATIC tokens worth $11.24 million.
In response to the breach, WazirX has temporarily suspended all fiat and cryptocurrency withdrawals to protect user assets. The exchange acknowledged that a vulnerability in one of its multi-signature wallets had been exploited and assured users that their team is actively investigating the incident. WazirX's statement emphasized their commitment to resolving the issue and keeping users informed with regular updates.
This hack highlights ongoing security challenges within the cryptocurrency industry, underscoring the need for robust measures to safeguard digital assets. As the industry prepares for Benzinga’s Future of Digital Assets conference, incidents like these will be central to discussions on the evolving landscape of digital assets and blockchain technology.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.