Indian crypto exchange WazirX experienced a security breach in one of its multisig wallets, leading to over USD 230 million in suspicious withdrawals, according to media reports. The incident, confirmed by the exchange in an X post, resulted in a significant loss of user funds.
The stolen assets include USD 100 million worth of shiba inu (SHIB) tokens, USD 52 million in ether (ETH), USD 11 million in Matic's MATIC, and USD 6 million in pepe (PEPE), according to media reports. The exploiter is actively selling these tokens on the on-chain exchange Uniswap.
The lost funds represent more than 45 percent of WazirX's total reserves, which were cited in a June 2024 report, according to media reports. The exchange's live proof of reserve site was down for maintenance at the time of writing. WazirX has paused INR and crypto withdrawals temporarily to ensure asset safety.
