WazirX has been hacked!

[pakhitheboss]

Found it on X.com sharing it here for the community. It happened on the Ethereum network and a total of $234.9M has been moved to a new address. If anyone here has stored ETH on the WazirX wallet please go and check it. As of now, WazirX has not come out with any statement about the hack.


https://x.com/Cointelegraph/status/1813837547887300828?t=XMlqE6Aw87eoIJ--I3xnxQ&s=19

It is now confirmed that the hack has occurred after WazirX issued a statement.

"We're aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident," the exchange confirmed in an X post. "To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused."

It is said that 45% of the exchange account holding has been hacked. I doubt they will be able to get those funds back.

[TheUltraElite]

This is bad news in the front of an already crumbling crypto sector in India. The hackers know that they can hit exchanges and come out with billions.

It would be interesting to see if the legal approach would take any effect on the existing pea-brained politicians about their approch to cryptocurrencies and the public outcry that will happen.

Never store coins on exchanges, something that I cant emphasize enough. Unfilled trades will get affected, you cant do anything about those in such cases.

[pakhitheboss]

This is bad news in the front of an already crumbling crypto sector in India. The hackers know that they can hit exchanges and come out with billions.

It would be interesting to see if the legal approach would take any effect on the existing pea-brained politicians about their approch to cryptocurrencies and the public outcry that will happen.

Never store coins on exchanges, something that I cant emphasize enough. Unfilled trades will get affected, you cant do anything about those in such cases.

Looks more like an internal job to me as thier multi signature wallet was hacked. They may come up with excuses and create a story around this hack but without internal assistant the hacker could not have done a cyber attack. The legal action can only be taken if the users who were affected by the attack raise an FIR. Till now I do not think an FIR has been raised either by the exchange or those affected users. It is imperative that exchange wallets should always be avoided to store coins. A personal wallet with backup and less access to the internet is always considered good practice.

[HootChain]

The Wizerx Multisag wallet was compromised due to a critical vulnerability in the wallet's private key management system, allowing unauthorized access and subsequent drainage of funds. The attack exploited a gap between the information presented to the signatories and the actual transaction being executed. Weak security measures was taken and their was discrepancy between the information displayed on Liminal's (the custody service provider) interface and the actual content of the transaction.

Hackers manipulated the information displayed on Liminal's interface to show incorrect transaction details. This misled the signatories into approving a malicious transaction that transferred funds to the attacker's wallet.

[laubeaud]

Found it on X.com sharing it here for the community. It happened on the Ethereum network and a total of $234.9M has been moved to a new address. If anyone here has stored ETH on the WazirX wallet please go and check it. As of now, WazirX has not come out with any statement about the hack.

https://www.talkimg.com/images/2024/07/18/4GtX8.jpeg
https://x.com/Cointelegraph/status/1813837547887300828?t=XMlqE6Aw87eoIJ--I3xnxQ&s=19

It is now confirmed that the hack has occurred after WazirX issued a statement.

"We're aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident," the exchange confirmed in an X post. "To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused."

It is said that 45% of the exchange account holding has been hacked. I doubt they will be able to get those funds back.

 I saw it on Twitter too. I am sorry for the affected users. WazirX has made a tweet about this. This is a security problem. There is one lesson to learn here: choose your trading exchange wisely. Check if they have a solid security system and a user protection fund. This is one of the reasons I do all my trades on Bitget. I cannot afford to lose my hard-earned money.

[TheUltraElite]

Some shill accounts have got no sense of morals, inserting their shill exchange names to be the best of them all while the topic is a grave one, with one of the biggest heists from a crypto exchange ever made by hackers.
Anyway, I dont see any evidence to pin it on internal affairs. Maybe or maybe not, we will never know for sure. Because if someone from WazirX did used their signature, it would be tracked back on them.

The crypto situation in India is poor, you have to agree that exchanges are having a hard time coping up - but will they resort to scamming their customers?
Someone needs to start an FIR, if not already done.

[pawanjain]

I got to know about this news today morning and I was wondering the same, I think it's an inside job.
Otherwise, how could it be possible to steal the funds from a multi-sig wallet.
After all, WazirX has been in the space for quite a long time now and a weak security from them is definitely not expected.

[Flexy.png]

is it joeover 😭?

[pakhitheboss]

I got to know about this news today morning and I was wondering the same, I think it's an inside job.
Otherwise, how could it be possible to steal the funds from a multi-sig wallet.
After all, WazirX has been in the space for quite a long time now and a weak security from them is definitely not expected.

That is the point it is not a new exchange that got robbed due to technical issue. There will be multi layer of security measures and firewalls in place to avoid such hacks. Above all it is a multi signature wallet and someone from the inside would be aware of any flaws in the system. As of now they have stopped all withdrawals but are still accepting fiat deposit.

[Bitcoin Smith]

Above all it is a multi signature wallet and someone from the inside would be aware of any flaws in the system. As of now they have stopped all withdrawals but are still accepting fiat deposit.

As of now they announced bounty for whoever can help identify/recover the stolen funds and also I read that they contacted many exchanges all around the world to stop the funds funneling via their platform along with registered compliant with FIU.

So far there is no proper inimation given to users about this hack I opened their app they seem to be coninuing as usual which is red flag and not being transparent backs up there's something definitely going on inside.

For now better not to use the exchange at all until they gets cleared with this thing.

[pakhitheboss]

As of now they announced bounty for whoever can help identify/recover the stolen funds and also I read that they contacted many exchanges all around the world to stop the funds funneling via their platform along with registered compliant with FIU.

I do not know how effective the bounty program will be but an investigation needs to be done. I am not aware if those who have lost their funds have contacted the local PS to raise a complaint. If they have not then nothing will happen and the exchange will come up with all sorts of excuses. The worst part of this issue is the exchange has halted all kinds of withdrawals but has not stopped accepting deposit.