Indian Exchange WazirX Hacked For $230 Million, Mainly In SHIB, As Elliptic Blames North Korea

Indian
crypto
exchange

WazirX
was
hacked
for
over
$230
million,
mostly
in
Shiba
Inu
(SHIB),
with
on-chain
sleuth
Elliptic
blaming
North
Korea.

The
stolen
funds
accounted
for
45%
of
the
platform’s
total
$500
million
reserve
holdings.
Of
the
cryptos
that
were
moved
during
the
incident,
Shiba
Inu
(SHIB)
accounted
for
the
lion’s
share
with
$100
million
worth
of
the
meme
coin
being
stolen

Ethereum
(ETH)
worth
$52
million
was
also
stolen,
as
well
as
$11
million
in
MATIC
and
$6
million
in
PEPE,
according
to
Lookonchain. 

Update:#WazirX
has
~$230M
in
assets
stolen.
Including:

5.43T

$SHIB($102M)
15,298

$ETH($52.5M)
20.5M

$MATIC($11.24M)
640.27B

$PEPE($7.6M)
5.79M

$USDT
135M

$GALA($3.5M)
…

‼️Please
note
that
the
hacker
is
selling
these
assets!https://t.co/1uOozAVeM1

https://t.co/ogtVSFITK9

pic.twitter.com/3vPmxqXwbL

—
Lookonchain
(@lookonchain)

July
18,
2024

The SHIB

price
plummeted
on
the
news
and
is
down
more
than
7%
in
the
past
24
hours
to
trade
at
$0.0000175
as
of
2:45
a.m.
EST.  

The
hackers
have
since
been
actively
selling
the
crypto
for
ETH.


On-chain

data
shows
the
exploiters
have
already
exchanged
the
funds
for
43,800
ETH
worth
$149.46
million.
This
has
pushed
the
hackers’
ETH
holdings
from
the
incident
to
59,097
ETH. 

There
is
still
$15
million
worth
of
crypto
left
in
the
hackers’
wallet.
The
funds
are
spread
between
Dent,
Chromia,
Celer
Network
and
Frontier
tokens.

North
Korean
Hackers
Suspected
Of
Being
Behind
The
WazirX
Breach

In
a
July
18


blog
post,
Elliptic
said
that
more
than
200
different
assets
made
up
the
stolen
funds.
It
added
that
the
hackers
have
used
a
variety
of
decentralized
services
to
exchange
the
funds
for
ETH.

Elliptic
research
added
that
the
“hack
was
perpetrated
by
hackers
affiliated
with
North
Korea,”
while
ZachXBT
said
on
X
that
the
hack
“has
the
potential
markings
of
a
Lazarus
Group
attack
(yet
again).”  

????

@WazirXIndia
suffered
a
major
hack
earlier
this
morning
in
a
North
Korea-linked
breach.
Elliptic
analysis
has
identified
that
around
$235
million
in
cryptoassets
were
lost
in
this
breach.

Follow
our
latest
blog
for
details
of
the
hack
⬇️https://t.co/9WYfyTzfEt

—
Elliptic
(@elliptic)

July
18,
2024

“We’re
aware
that
one
of
our
multisig
wallets
has
experienced
a
security
breach,”
WazirX

said
in
a
July
18
post
on
X.
“Our
team
is
actively
investigating
the
incident.”

 

To
ensure
the
safety
of
users’
funds,
the
exchange
temporarily
paused
INR
and
crypto
withdrawals.

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