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Web3 security firm Cyvers has identified multiple suspicious transactions involving WazirX’s Safe Multisig wallet on Ethereum. According to an X post, about $234.9 million from the Indian crypto exchange’s wallet have been moved to a new address. Notably, each transaction’s caller was funded by Tornado Cash, a decentralized protocol for private transactions.
The new address has already converted a portion of the transferred funds into Ether (ETH), which is currently down to $3,440. The shifted assets included Tether (USDT), Pepe (PEPE), and Gala (GALA).
Crypto sleuth ZachXBT, in a Telegram post within the “Investigations by ZachXBT” channel, reported that the suspected primary attacker still has over $104 million in the new address. The wallet primarily consists of $100 million in Shiba Inu (SHIB), $52 million in ETH, and $11 million in Polygon (MATIC).
Additionally, the wallet holds $4.7 million in FLOKI, $3.2 million in Fantom (FTM), $2.8 million in Chainlink (LINK), and $2.3 million in Fetch.ai (FET), along with smaller amounts in various other tokens.
In light of this security breach, WazirX has temporarily halted the withdrawal of cryptocurrencies and Indian rupees on its platform. The exchange announced in an X post that they are “actively investigating the incident” and will provide updates as the situation evolves.