Shiba Inu (SHIB) Was Affected by a $230 Million Hack on India\'s Largest Cryptocurrency Exchange, WazirX

A significant security breach has been realized by Cyvers Alert, which has affected WazirX, which is the largest cryptocurrency exchange in India.

India's largest cryptocurrency exchange, WazirX, has fallen victim to a massive $230 million hack.

Cyvers Alert noticed the breach, which saw multiple suspicious transactions from the exchange’s Safe Multisig wallet being flagged by on-chain sleuths. A total of $234.90 million was shifted from WazirX to another address. Entities that were funded by Tornado Cash carried out the transactions.

The hacked address has been actively trading various digital assets, including PEPE, GALA and USDT, for ETH. Several on-chain transactions were detected by Whale Alert, with one notably highlighting a withdrawal of 5.4 trillion SHIB from WazirX to an unidentified wallet. This particular transaction alone was valued at $102.13 million.

According to further analysis by Lookonchain, the total amount of cryptocurrency stolen includes 5.43 trillion SHIB (around $102 million), 15,298 ETH (around $52.5 million), 20.5 million MATIC (around $11.24 million), 640.27 billion PEPE (around $7.6 million), 5.79 million USDT, and 135 million GALA (around $3.5 million).

Launched in 2018, WazirX is a leading cryptocurrency exchange in India that offers a platform for users to trade a wide range of digital assets. It boasts a large user base, with over 16 million people having signed up for the exchange.

The recent security breach has sparked concerns over the platform's security protocols and the safety of users' funds. At the time of writing, the exchange has not yet commented on the incident.

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