WazirX Hack: $230M Stolen, Including 5 Trillion SHIB Coins

Indian cryptocurrency exchange WazirX has reported a significant security breach, resulting in the unauthorized transfer of over $230 million in digital assets. The breach, detected by Cyvers Alert, involved the exchange’s multisig wallet on the Ethereum network. The stolen assets include over $100 million worth of Shiba Inu (SHIB) tokens, $52 million in Ether (ETH), $11 million in Polygon (MATIC), and $7.6 million in Pepe Coin (PEPE). The attacker reportedly upgraded the Safe Wallet to a malicious contract to facilitate the transfer of funds.

In response to the breach, WazirX has temporarily halted all INR and crypto withdrawals to safeguard user funds and enable a thorough investigation. The unauthorized transactions involved a suspicious wallet address "0x04b2," which has been actively converting the stolen assets to Ether. The incident has raised concerns within the cryptocurrency community about the security protocols of exchanges and the increasing need for robust measures to prevent such exploits. The breach has also affected the market performance of the impacted crypto assets, notably leading to a decline in the value of Shiba Inu tokens.