WazirX experienced a major security breach, resulting in a significant theft of Shiba Inu （SHIB） tokens. The hacker has returned a portion of the stolen assets, and WazirX is actively working to recover the remaining funds.
Points
- WazirX was hacked, resulting in the theft of nearly $235 million in cryptocurrencies.
- The hacker moved 16,345 ETH to new wallets, holding 43,962 ETH across various wallets.
- WazirX is offering up to $23 million in rewards for information leading to the recovery of stolen assets.
- The exchange is collaborating with on-chain investigators and cybersecurity experts.
- The hack has raised concerns about the security of crypto exchanges in India.
In the last week, WazirX, India’s largest crypto exchange, faced a major security breach resulting in the theft of nearly a quarter billion dollars worth of cryptocurrency. Anonymous hackers exploited transactions to withdraw 5.4 trillion Shiba Inu （SHIB） tokens, valued at $102.13 million. This significant SHIB sale caused the token’s price to drop by almost 8% at one point.
Recently, Spot On Chain reported that the WazirX exploiter moved 16,345 ETH, worth about $56.88 million, to two new wallets, “0x58d” and “0x668,” and still holds 43,962 ETH, approximately $153 million, across various wallets. The hacker continues to sell assets like CTSI, PUSH, REEF, and REN for more ETH.
In response to the breach, WazirX is taking active measures to recover the stolen funds. The exchange has attracted numerous on-chain investigators and analysts to identify the hacker. To incentivize assistance, WazirX is offering up to $23 million in rewards for information leading to the recovery of the stolen assets. The exchange is calling on white hat hackers, blockchain forensics experts, and cybersecurity professionals worldwide to join the bounty hunt.
The WazirX hack has sparked widespread concern in the crypto community, emphasizing the need for enhanced security measures on cryptocurrency exchanges, particularly in India. The incident underscores the vulnerabilities in digital asset platforms and the ongoing battle against cyber threats in the rapidly evolving crypto market.