WazirX, India’s largest cryptocurrency exchange, has been hacked, with cryptocurrencies worth over Rs 1,900 crore ($234 million) transferred to an anonymous wallet address.
In response to the matter, WazirX admitted the wallet breach, stating, “We’re aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident. To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused. Thank you for your patience and understanding. We’ll keep you posted with further updates.”
The hacked wallet has since been actively dumping the stolen assets. Notably, the wallet has offloaded 640.27 billion PEPE tokens, worth around $7.6 million. Significant amounts of other cryptocurrencies have also been transferred from the breached wallet in addition to the PEPE tokens.
Yajin (Andy) Zhou, co-founder of Blocksec said to The Block, “Looks there is a private key leakage in WazirX exchange. The leaked private keys are used to upgrade a safe multi-sig wallet, which holds a large number of assets, to a malicious contract. Then the malicious contract is used to drain most of the assets in the Safe Wallet.”
