WazirX, a Mumbai-headquartered cryptocurrency exchange, has fallen victim to a major wallet breach, as over Rs 1,964 crore is said to have been transferred to a new address. The breach was identified by Web3 security firm Cyvers, which discovered “multiple suspicious transactions” linked to WazirX’s Safe Multisig wallet on the Ethereum blockchain.
According to Cyvers, approximately $234.9 million (roughly Rs 1,964 crore) was transferred from the wallet to a new address, with the transactions traced back to Tornado Cash, a decentralised protocol known for facilitating private transactions.
How Did WazirX Respond?
After taking notice of the transfer, WazirX said that its team is currently investigating the issue and that it has prompted a temporary halt on both INR and cryptocurrency withdrawals to protect customer assets.
WazirX further confirmed that the security concern is related to one of its Liminal multi-sig wallets. "We appreciate your patience and support during this time," the exchange added.
The events have raised alarms in the crypto community, underscoring the risks associated with digital asset exchanges.
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