The Indian cryptocurrency exchange WazirX has reportedly fallen victim to a massive cyber-attack. Multiple reports on X (formerly Twitter) have highlighted suspicious transactions originating from the Safe Multisig Wallet on Ethereum.
According to Cyvers Alerts, approximately $230 million has already been transferred from the exchange to the crypto mixer Tornado Cash. The attackers initially converted the stolen cryptocurrencies into ETH and USDT before moving the funds.
The suspected hacker wallet (0x04b21735E93Fa3f8df70e2Da89e6922616891a88) still holds numerous altcoins, including nearly $100 million in SHIB, $52 million in ETH, and smaller amounts of MATIC, FLOKI, and FTM at the time of writing.
The selling pressure caused by the hackers has led to significant drops in the affected coins and tokens. Shiba Inu has been hit hardest, with the SHIB price dropping by more than ten percent in a single day.
WazirX has announced that it has initiated investigations into the incident. Deposits and withdrawals on the platform have been suspended until further notice.
This attack comes just months after the Japanese crypto exchange DMM Bitcoin was hacked for $305 million in May.
