Huge hack at Indian crypto exchange WazirX

After an attack on the Indian exchange, $230 million worth of altcoins disappeared. Memecoin Shiba Inu was hit especially hard.

Indian crypto-exchange WazirX has fallen victim to a devastating cyber attack. There are multiple reports on X of suspicious transactions originating from the Safe Multisig Wallet on Ethereum. According to Cyvers Alerts, $230 million has already been transferred from the exchange to the crypto-mixer Tornado Cash. Before the attackers did this, they converted the stolen cryptos to ETH and USDT.

The suspected hacker-wallet (0x04b21735E93Fa3f8df70e2Da89e6922616891a88) still contains numerous altcoins at the time of writing. This includes nearly US$100 million in SHIB, US$52 million in ETH, as well as smaller amounts of MATIC, FLOKI and FTM.

The selling pressure caused by the hackers is causing price drops in affected coins and tokens. Shiba Inu is being hit the hardest. The SHIB exchange rate temporarily dropped more than ten percent today.

According to a post on X, WazirX has already launched investigations. Ins and outs on the platform have been suspended until further notice.