WazirX Hacked: $230 Million Stolen, SHIB and FLOKI Worth Millions For Sale!

Key Points:

• ZachXBT reports a potential hack, highlighting a theft address and substantial asset losses.
• $102 million in SHIB, $52.5 million in ETH, and $11.24 million in MATIC.
• WazirX identifies a vulnerability in the multi-signature wallet and suspends withdrawals for investigation.

ZachXBT reported that a whistle one of the most prominent cryptocurrency exchange sites in India, the WazirX hacked incident, resulted in a loss of more than an arresting $ 230 million; below is one of the primary addresses that the most massive amount was siphoned from that 0x04. 1a88.

$230 Million Loss Sparks Crypto Security Concerns

ZachXBT believes that the attacker is currently holding, among other things, more than $100 million worth of the SHIB token, a token based on the Shiba Inu meme, and over $4.7 million worth of the FLOKI token that he intends to dispose of.

More insights from the blockchain analytic platform Lookonchain strengthen the severity of the incident: Around $230 million worth of assets were stolen from WazirX hacked. These include 5.43 trillion SHIB (worth $102 million), 15,298 ETH (Ethereum) (worth $52.5 million), and 20.5 million MATIC (Polygon) (worth $11.24 million).

Read more: BNB Chain Hack Loses $1.6B, Immunefi Investigation Unveils!

WazirX Hacked Withdrawals Amid Security Vulnerability

WazirX hacked stated that the breach could be traced back to defects in the multimodal signature wallet system, not because of its usage. The exchange has suspended fiat and cryptocurrency withdrawals to avert more dangers and secure its users’ holdings.

WazirX had previously assured its users that they were looking into the issue and were committed to restoring normalcy in their operations as soon as possible. Ultimately, the two most important impacts it has had so far are on market sentiment and setting a larger precedent for cryptocurrency regulation in India.