WazirX Suffers $235 Million Hack, Raising Concerns Over Cryptocurrency Security in India

The massive $235 million hack on the Indian cryptocurrency exchange WazirX on July 18 has raised serious concerns about exchange security and the future of cryptocurrency in India. The attack was detected by Web3 security firm Cyvers, which noted “multiple suspicious transactions” involving WazirX’s “Safe Multisig” wallet on Ethereum. The hacker moved $234.9 million worth of funds to a new address, using assets from cryptocurrency mixer Tornado Cash to fund each transaction. The stolen funds included a variety of cryptocurrencies such as Tether, Pepe, and Gala. The attacker quickly converted these assets into Ether to obscure the trail of stolen

Source: CryptoIntelligence