Indian crypto exchange WazirX has suffered a security breach in which $230 million in assets were suspiciously transferred out of the platform earlier on Thursday.
The firm in a post on X said that one of its multisig wallet suffered a breach and it is temporarily pausing all withdrawals from the platform.
A multisig wallet needs two private keys for authentication. "It appears that the security issue involves one of our Liminal Multisig wallets," the company said in the post.
According to the Lookchain report, 5.43 billion SHIB tokens, over 15,200 Ethereum tokens, 20.5 million Matic tokens, 640 billion Pepe tokens, 5.79 million USDT, and 135 million Gala tokens were stolen from the platform, reported TechCrunch.
The attacker's identity is unclear but reports data suggest that they are trying to offload the assets using decentralised exchange Uniswap.
CoinSwitch and CoinDCX, two other leading crypto exchanges in India, told their customers that their funds were secure and unharmed by the incident.
"Our wallet security remains robust," Sumit Gupta, co-founder and chief executive of CoinDCX said on X.
Ashish Singhal, co-founder and chief executive of PeepalCo, the group holding firm of CoinSwitch, posted, "We advise all our crypto investors to be mindful of potential market volatility during this time and exercise caution in their trading and investment activities."
Image Source: WazirX
Comments