Major Indian Crypto Exchange WazirX Hacked for $230 Million

On July 18, 2024, India's leading cryptocurrency exchange WazirX was hacked, resulting in the theft of over $230 million in cryptocurrency. 

The hackers were able to exploit a vulnerability in WazirX's hot wallets, which are digital wallets used to store cryptocurrencies that are frequently accessed.

The stolen funds reportedly included a variety of cryptocurrencies, including Shiba Inu (SHIB) and WRX, the native token of the WazirX platform. The hack caused the prices of both SHIB and WRX to plummet.

In response to the hack, WazirX has suspended all cryptocurrency deposits and withdrawals. The exchange is currently investigating the incident and working to recover the stolen funds.

What are the implications of the WazirX hack?

The WazirX hack is a major blow to the cryptocurrency industry in India. It highlights the importance of security for cryptocurrency exchanges and the need for investors to be aware of the risks involved in investing in cryptocurrencies.

What should WazirX users do?

If you are a WazirX user, it is important to be aware of the following:

 * WazirX has suspended all cryptocurrency deposits and withdrawals.

 * The exchange is currently investigating the incident and working to recover the stolen funds.

 * It is important to monitor your WazirX account for any suspicious activity.

For more information on the WazirX hack, you can refer to the following sources:

 * WazirX Hack: Indian Crypto Exchange Suffers $235M Exploit, Pauses Withdrawals [invalid URL removed]

 * Biggest Indian crypto exchange WazirX hacked, $230 million funds stolen [invalid URL removed]