News View Non-AMP

BREAKING: Indian Crypto Exchange Wazirx Hacked for $235M – Is Your Money Safe?

Published by
Nidhi Kolhapur

In a rather shocking incident, WazirX, a popular crypto exchange in India, is now the latest victim of a hacker attack losing $235 million, which makes it one of the largest heists of the year. 

Web 3 security firm Cyvers Alert was the first to flag this breach based on multiple unhealthy transactions of the WazirX Safe Multisig wallet on Ethereum. What’s more surprising is that the hacker has already started to sell the stolen funds and the crypto exchange hasn’t said a word on the security of user funds despite acknowledging the hack.

The Hacker Moves Quick

The untouched funds, nearly $234.9 million, initially held in the Safe Multisig wallet, were transferred to a new wallet, with every transaction funneled through Tornado Cash. The attackers quickly cashed out the stolen assets, including Tether (USDT), Pepe (PEPE), and Gala (GALA), converting them to Ether (ETH).

Crypto analyst and investigator ZachXBT reported on his Telegram channel that the primary hacker still holds over $104 million. The hacker’s wallet remains rich, containing more than $100 million worth of SHIB and over $4.7 million in FLOKI, yet to be liquidated.

WazirX Responds

In a post on X (formerly known as Twitter), WazirX stated they are actively working to identify the perpetrator who accessed their multisig wallets and are attempting to recover users’ assets. All cryptocurrency and INR withdrawals have been temporarily halted to prevent further losses.

However, users have expressed concerns, as no assurances have been provided regarding the safety of their funds.

Investors, Keep Your Funds Safe!

In light of this incident, it’s crucial for crypto users to take preventive steps to safeguard their assets. Here are some key recommendations:

1. Use Hardware Wallets: Store the majority of your crypto assets in hardware wallets, which are offline and thus immune to hacking.

2. Enable Two-Factor Authentication (2FA): Enhance the security of your exchange and wallet accounts by enabling 2FA, adding an extra layer of protection.

3. Regularly Monitor Accounts: Keep a close watch on your accounts and immediately contact your financial institution if you notice any unusual activity.

4. Diversify Storage: Avoid keeping all your funds in one place. Distribute your assets across multiple wallets to mitigate the risk of losing everything in a single breach.

Also Read: North Korean Hackers Exploit Crypto Industry with Fake Job Applications

Protect your crypto assets now! Share this article with your friends and family to spread awareness.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Pi Network News: 5.6M Pi Tokens Set to Unlock Today, Analyst Eyes $5 Surge

The crypto market stayed quiet over the weekend, with Bitcoin trading in a narrow range…

April 21, 2025

Crypto Pro Who 500x’d on PEPE Says This Coin Is the Next Big Thing—And It’s Launching Now!

A seasoned crypto expert, renowned for turning a remarkable profit on PEPE, now points to…

April 20, 2025

Dogecoin (DOGE) and 2 More Altcoins You Can’t Afford to Miss in 2025

Dogecoin (DOGE) showed strong market growth by reaching $0.1569 while increase and 3.3% within 24…

April 20, 2025

SHIB Investors Turning Heads—Influencer Pepe to Lead New Meme Coin Revolution

Shiba Inu (SHIB) investors are stirring—after a wild ride, SHIB’s holding steady at $0.00001222 with…

April 20, 2025

The 5 Most Talked-About Cryptos of Q1 2025, Are You Holding Them?

Rexas Finance (RXS) has emerged as the leading topic in crypto circles in Q1 2025,…

April 20, 2025

Is Pi Network Breakout Imminent? New Roadmap Sparks 4% Surge Amidst Mixed Reactions

Pi Network price has surged over 4% in the past 24 hours following the launch…

April 20, 2025