WazirX, a major crypto exchange, has been hacked, resulting in the loss of $230 million. The breach involved suspicious transfers detected by Cyvers Alerts, leading to a pause in INR and crypto withdrawals.
Points
- WazirX hacked, losing $230 million.
- Cyvers Alerts detected suspicious transfers, raising concerns.
- Withdrawals paused as WazirX investigates the breach involving their multisig wallet provider, Liminal.
Crypto exchange WazirX has been hit by a significant hack, resulting in the theft of $230 million. The breach was detected by Cyvers Alerts, a security monitoring service, which noted multiple suspicious transactions from WazirX’s Safe Multisig wallet on the Ethereum network to a new address. The suspicious activity raised red flags, given the involvement of Tornado Cash, a service known for its association with illicit activities.
In response to the breach, Wazir
X has paused INR and crypto withdrawals to investigate the incident, focusing on their multisig wallet provider, Liminal. The stolen funds represent 45% of WazirX’s holdings, leading to significant concerns about the exchange’s security and operational integrity. The proof of reserve site has also gone down post-breach, adding to the anxiety among users.
Initial Detection and Response
Cyvers Alerts first detected the breach, noting multiple suspicious transfers from WazirX’s Safe Multisig wallet on the Ethereum network to a new address. These transactions, funded initially by Tornado Cash, prompted immediate scrutiny due to Tornado Cash’s history with illicit activities.
Impact and Investigation
WazirX’s response involved pausing all withdrawals to prevent further losses while the breach is thoroughly investigated. The exchange’s reliance on Liminal, a multisig wallet provider, is under examination to understand how the breach occurred and to implement more robust security measures.
https://x.com/CyversAlerts/status/1813834131165286464
解説
- Multisig wallet: A type of wallet that requires multiple private keys to authorize a transaction, enhancing security by distributing control among several parties.
- Tornado Cash: A privacy tool that mixes Ethereum transactions to obscure their origin, often associated with money laundering and illicit activities.
- Proof of reserve: A method by which crypto exchanges demonstrate that they hold sufficient assets to cover their users’ deposits, ensuring transparency and trust.
- Security breach: An incident where unauthorized access to data, applications, services, networks, or devices is gained, often resulting in data loss or theft.
- Operational integrity: The ability of a company to perform its functions reliably and securely, maintaining trust and confidence among users.