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News

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

July 18, 2024 - Around 2 mins mins to read

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

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

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.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Crypto Security

SHIB and FLOKI

WazirX

WazirX Hacked

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

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

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

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.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.