WazirX hacked; halts withdrawals as over $230 million stolen
5 months, 3 weeks ago

WazirX hacked; halts withdrawals as over $230 million stolen

The Hindu  

Indian cryptocurrency exchange WazirX claimed that it was “taking all necessary steps to protect the customer assets,” after a cyber-attack against one of its wallets resulted in the loss of more than $230 million. “Despite us taking all necessary steps to protect the customer assets, the cyber attackers appear to have possibly breached such security features, and the theft occurred,” said the crypto exchange. Below are the preliminary findings to clarify the situation: » Incident Overview: A cyber attack occurred in one of our multisig wallets… — WazirX: India Ka Bitcoin Exchange July 18, 2024 The cyber hack did not unduly impact the crypto market at large. The price of the Shiba Inu meme token—popular with many Indian crypto investors—​dropped briefly around the time of the attack on July 18, but was up by 8.07% in the past seven days.

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History of this topic

Bengal man arrested in Rs 2,000 crore crypto heist on WazirX
1 month, 4 weeks ago

Bengal man arrested in Rs 2,000 crore crypto heist on WazirX

India Today  

The Delhi Police has arrested an individual in connection with the cyberattack on cryptocurrency exchange firm, WazirX, which resulted in losses of around Rs 2,000 crore in digital assets. In a chargesheet filed by the Delhi Police, Alam is accused of opening a WazirX account under the name Souvik Mondal and selling it via Telegram to another individual, M Hasan, …

Binance accuses WazirX CEO Nischal Shetty of misleading customers after wallet attack
3 months, 3 weeks ago

Binance accuses WazirX CEO Nischal Shetty of misleading customers after wallet attack

The Hindu  

The international cryptocurrency exchange Binance has released a statement distancing itself from the Indian exchange WazirX and accusing CEO Nischal Shetty of misleading customers, after the Indian company’s multi-signature wallet was hacked, leading to the loss of more than $230 million and bringing to light a contentious business relationship between the two exchanges. While WazirX has claimed that it was …

India’s Biggest Crypto Hack of 2000 Crores: What WazirX Hack Teaches Us
3 months, 4 weeks ago

India’s Biggest Crypto Hack of 2000 Crores: What WazirX Hack Teaches Us

ABP News  

Over 50 days have passed since the biggest crypto cyber hack of India- the WazirX hack- that resulted in the theft of Rs 2000 crores worth of cryptocurrencies from the exchange. What has transpired since the July 18 hack of WazirX exchange depicts a classic tale of denial and obfuscation by the exchange management, apathy of the Indian government towards …

Crypto firm WazirX's security partner says no evidence of cyberattack on its system
4 months ago

Crypto firm WazirX's security partner says no evidence of cyberattack on its system

India Today  

Liminal Custody, a digital asset custody company, has claimed the cyberattack that hit its security partner and cryptocurrency exchange, WazirX, happened at the latter's end as per audit findings. A comprehensive review of Liminal Custody's web application, including its front end, User Interface and backend was conducted by audit firm Grant Thornton. The audit firm said it did not find …

WazirX Hack: Over $230 Million in stolen Crypto converted to Ether
4 months, 1 week ago

WazirX Hack: Over $230 Million in stolen Crypto converted to Ether

The Hindu  

A major part of the more than $230 million in assets stolen from Indian crypto exchange WazirX last month has been converted to Ether, the second biggest cryptocurrency by market capitalisation, according to the crypto tracker Lookonchain. Crypto outlet Coin Desk also reported that a cryptocurrency “mixer” known as Tornado Cash was used to carry out currency transport. In response …

The $230-million WazirX hack: regulatory gap leaves 4 million Indians stranded
4 months, 1 week ago

The $230-million WazirX hack: regulatory gap leaves 4 million Indians stranded

Live Mint  

About 4.2 million of WazirX’s 16 million users were struck by a massive hack of the cryptocurrency exchange on 18 July that wiped off 40-50% of their crypto balances. “I had invested approximately ₹1.4 lakh in WazirX around 3-4 years ago, which grew to ₹2 lakh over time… I think about half my money will come back—whether in 1 year …

Mudrex crypto exchange obtains court order against scam websites misusing its name
4 months, 1 week ago

Mudrex crypto exchange obtains court order against scam websites misusing its name

The Hindu  

The Indian cryptocurrency exchange Mudrex obtained a court order that will direct the Indian government to take down a number of scam websites misusing its name and brand, per its CEO and a report by crypto outlet CoinDesk. The scammers allegedly impersonated real Mudrex employees, lured victims through Telegram by promising them rewards or work, and ran fake investment websites …

WazirX CEO Nischal Shetty shares move to restore account balances and undo all platform trades post-withdrawal halt
5 months ago

WazirX CEO Nischal Shetty shares move to restore account balances and undo all platform trades post-withdrawal halt

The Hindu  

Indian crypto exchange WazirX announced that all user balances would be restored to what they were on July 18, 1 PM IST, prior to a cyberattack against one of the company’s multi-signature wallets that led to the loss of over $230 million in assets at the time. “After careful consideration of the situation and the feedback received from numerous users, …

WazirX crypto hack | As CEO Nischal Shetty confirms FIR, rival exchange CoinDCX announces ₹50 crore investor protection fund
5 months ago

WazirX crypto hack | As CEO Nischal Shetty confirms FIR, rival exchange CoinDCX announces ₹50 crore investor protection fund

The Hindu  

As WazirX cryptocurrency exchange users anxiously wait for updates regarding the more than $230 million in assets stolen from a breached multi-signature wallet, rival crypto exchange CoinDCX announced a ₹50 crore Crypto Investors Protection Fund. The company’s CEO Nischal Shetty repeatedly asked users to be patient as the incident was being investigated, and confirmed this week that an FIR had …

WazirX registers FIR for $234 million hacking case in New Delhi
5 months ago

WazirX registers FIR for $234 million hacking case in New Delhi

Live Mint  

Indian Crypto exchange WazirX filed a first information report based on the previous police complaint connected to the cybersecurity attack, which cost the company $230 million in the form of crypto assets. The FIR was filed at PS Special Cell, PS Lodhi Colony in New Delhi, according to WazirX's post on the social media platform X on Tuesday, August 6. …

WazirX crypto exchange hack: how much of the assets was lost, CEO Nischal Shetty’s announcement, and what happens next
5 months, 1 week ago

WazirX crypto exchange hack: how much of the assets was lost, CEO Nischal Shetty’s announcement, and what happens next

The Hindu  

Indian crypto exchange WazirX said approximately 45% of its crypto assets was affected by a cyber attack on July 18 that led to the loss of more than $230 million from one of its wallets. “As of June 10, 2024, at 6:30 PM, WazirX’s total holdings stood at an impressive ₹4,203.88 Crores, marking a staggering 79% surge compared to the …

Today’s Cache | WazirX’s post-hack woes continue; Elon Musk shares Kamala Harris deepfake; TikTok collected U.S. users’ views
5 months, 1 week ago

Today’s Cache | WazirX’s post-hack woes continue; Elon Musk shares Kamala Harris deepfake; TikTok collected U.S. users’ views

The Hindu  

WazirX’s post-hack woes continue More than one week after a hack that led to the theft of over $230 million in crypto assets from a multi-signature wallet, the Indian crypto exchange WazirX is struggling with the issue of resuming normal operations. Elon Musk shares Kamala Harris deepfake Experts are looking into the impact of AI-generated videos and audio in the …

WazirX crypto exchange hack and its bounty programme: what it means to India’s crypto investors?
5 months, 2 weeks ago

WazirX crypto exchange hack and its bounty programme: what it means to India’s crypto investors?

The Hindu  

On July 18, Indian cryptocurrency exchange WazirX was hit by a cyberattack that led to a loss of digital assets worth more than $230 million from one of its wallets. “The impact of the over $230M cyberattack is on the digital assets of our customers,” said WazirX in a blog post, adding that INR funds were not affected. But Liminal, …

WazirX Signers' Machine Not Compromised In $235-Million Breach, Findings Report Claims Liminal’s Infrastructure Was Likely Vulnerable
5 months, 2 weeks ago

WazirX Signers' Machine Not Compromised In $235-Million Breach, Findings Report Claims Liminal’s Infrastructure Was Likely Vulnerable

ABP News  

WazirX has come out with a report on initial findings in the aftermath of the July 18 cyberattack. WazirX's report, dated July 25, states, "Our preliminary findings have not found any evidence that WazirX signers’ machines were compromised.” The exchange's team is continuing a detailed forensic analysis and plans to disclose complete findings once the investigation is concluded. Liminal Likely …

WazirX crypto exchange halts deposits and withdrawals after $230 million hack; reported incident to Indian regulators
5 months, 2 weeks ago

WazirX crypto exchange halts deposits and withdrawals after $230 million hack; reported incident to Indian regulators

The Hindu  

Indian cryptocurrency exchange WazirX said that it had reached out to the Indian police, the Financial Intelligence Unit India, CERT-In, and over 500 other exchanges in order to respond to a hack of its wallet that led to the theft of more than $230 million. “On July 18, 2024, WazirX experienced a cyber attack on one of our multisig wallets, …

WazirX security breach: How did hackers steal $230 million in crypto?
5 months, 2 weeks ago

WazirX security breach: How did hackers steal $230 million in crypto?

Firstpost  

Indian crypto exchange WazirX has temporarily paused all trading after hackers stole $230 million in funds on Thursday. Experts say the cybercriminal group Lazarus – which is affiliated with North Korea – could be behind the attack With 16 million customers, WazirX is one of India's most prominent crypto exchanges. Economic Times quoted Liminal as saying, “Our preliminary investigations show …

Crypto exchange WazirX offers $23 mn bounty to help recover stolen assets
5 months, 2 weeks ago

Crypto exchange WazirX offers $23 mn bounty to help recover stolen assets

New Indian Express  

BENGALURU: Crypto exchange WazirX on Sunday announced the launch of a comprehensive bounty program to recover the stolen funds. WazirX also invited white hat hackers, blockchain forensics experts, and cybersecurity professionals from around the world to join this mission. We remain committed to transparency and collaboration, reinforcing our dedication to a secure and resilient digital finance ecosystem,” said Nischal Shetty, …

Indian crypto exchange WazirX hit by security breach leading to user fund loss and $230 million in withdrawals
5 months, 3 weeks ago

Indian crypto exchange WazirX hit by security breach leading to user fund loss and $230 million in withdrawals

India Today  

Indian cryptocurrency exchange WazirX has faced a massive security breach. The crypto exchange has confirmed that the breach led to loss of user funds and $230 million in withdrawals. WazirX has shared the affected wallet address: 0x27fD43BABfbe83a81d14665b1a6fB8030A60C9b4 Screenshot: X/@lookonchain “The cyber attack stemmed from a discrepancy between the data displayed on Liminal's interface and the transaction's actual contents. Liminal Custody …

Big blow to crypto industry as WazirX falls victim to $235 million hack
5 months, 3 weeks ago

Big blow to crypto industry as WazirX falls victim to $235 million hack

New Indian Express  

BENGALURU: WazirX, which is the country's largest cryptocurrency exchange by volume, on Thursday paused INR and crypto withdrawals temporarily as it suffered a security breach. Crypto storage provider Liminal Custody in a statement said its preliminary investigations show that one of the self-custody multi-sig smart contract wallets created outside of the Liminal ecosystem has been compromised. It is also pertinent …

How 5 Indian Americans allegedly laundered $30m in Cash-for-Bitcoin scam in New York
1 year, 2 months ago

How 5 Indian Americans allegedly laundered $30m in Cash-for-Bitcoin scam in New York

Hindustan Times  

Five Indian Americans are reportedly being investigated for an illegal $30million crypto exchange scheme operating in the heart of New York. 5 Indian Americans, Shaileshkumar Goyani, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel, and Raju Patel have been accused of running this illegal Bitcoin exchange with an adept criminal finesse, bypassing the legal scrutiny. The report claims, this individual …

Indian crypto exchange WazirX publishes proof of reserves
2 years ago

Indian crypto exchange WazirX publishes proof of reserves

The Hindu  

Indian crypto exchange WazirX has published its proof of reserves, or data that shows the assets it holds, according to a company press release on Wednesday. The crypto exchange that serves over 15 million customers shared that its total holdings equalled around 284.82 million USDT, via the Coin Gabbar analytics platform. By total value and percentage of holdings, WazirX’s top …

Crypto exchange WazirX says ED has unfrozen its bank account
2 years, 3 months ago

Crypto exchange WazirX says ED has unfrozen its bank account

The Hindu  

The Indian cryptocurrency exchange WazirX said on Monday that its bank accounts has been unfrozen by India’s Enforcement Directorate, after the exchange’s “active cooperation” and “active anti-money laundering” checks led to blocking suspicious accounts. The ED had issued orders to freeze ₹64.67 crore worth of crypto exchange WazirX’s bank deposits in August this year. WazirX’s blog post published on Monday …

Crypto exchange WazirX bank accounts unfrozen by ED, to continue banking operations as usual
2 years, 3 months ago

Crypto exchange WazirX bank accounts unfrozen by ED, to continue banking operations as usual

India Today  

WazirX, an Indian cryptocurrency exchange, announced that the ED had unfrozen its bank accounts. "In cooperation with investigators, WazirX provided all necessary details & documents of the alleged accused companies that used the WazirX platform," the exchange said in a statement. More on this https://t.co/DU36aT2oJA — WazirX: India Ka Bitcoin Exchange September 12, 2022 Notably, on August 5, 2022, the …

WazirX-ED Money Laundering Probe Reveals Darker Side Of Crypto In India: Govt Sources
2 years, 4 months ago

WazirX-ED Money Laundering Probe Reveals Darker Side Of Crypto In India: Govt Sources

ABP News  

New Delhi: The ED probe into alleged money laundering by crypto exchange WazirX and the subsequent squabbling among its promoters has revealed the 'darker side' of cryptocurrencies, a top government source said on Thursday. In the episode of WazirX, people got to know many darker sides, caution is necessary in crypto transaction," the source said. The agency has frozen Rs …

Cryptocurrency Binance WazirX India Enforcement Directorate probe money laundering crypto
2 years, 5 months ago

Cryptocurrency Binance WazirX India Enforcement Directorate probe money laundering crypto

The Hindu  

After India’s Enforcement Directorate issued orders to freeze ₹64.67 crores worth of crypto exchange WazirX’s bank deposits last week, the CEOs of WazirX and the crypto exchange giant Binance are under pressure to confirm whether WazirX is owned by Binance or not. They must also confirm whether transactions between them took place “off-chain.” The ED is probing WazirX, one of …

ED issues order to freeze ₹64.67 crore linked to WazirX
2 years, 5 months ago

ED issues order to freeze ₹64.67 crore linked to WazirX

The Hindu  

The Enforcement Directorate has conducted searches against one of the directors of Zanmai Lab Private Limited, which owns crypto-currency exchange WazirX, and issued an order to freeze ₹64.67 crore kept in bank accounts. “These companies and the virtual assets are untraceable at the moment.maximum amount of funds were diverted to WazirX exchange and the crypto assets so purchased have been …

WazirX Money Laundering Case: ED Issues Notice For Crypto Transactions Worth Rs 2,790 Cr
3 years, 6 months ago

WazirX Money Laundering Case: ED Issues Notice For Crypto Transactions Worth Rs 2,790 Cr

ABP News  

New Delhi: The famous cryptocurrency exchange WazirX, along with its directors Nischal Shetty and Sammer Hanuman Mhatre experienced a big blow on Friday in the form of a show cause notice by the Information Directorate, under Foreign Exchange Management Act, 1999,. The notice was issue regarding transactions involving cryptocurrency worth Rs 2,790.74 crore. The official twitter handle of ED on …

WazirX Gets ED Notice for Cryptocurrency Transfer Worth Rs 2,791 crore
3 years, 7 months ago

WazirX Gets ED Notice for Cryptocurrency Transfer Worth Rs 2,791 crore

News 18  

The Enforcement Directorate issued a show cause notice to WazirX, the largest crypto exchange in India for transactions worth over Rs 2,790 crore in alleged violation of the Foreign Exchange Management Act. A notice was sent to the popular cryptocurrency exchange and its directors Nischal Shetty and Sameer Mhatre “for contravention of the Foreign Exchange Management Act, 1999,” ED said. …

WazirX gets ED notice over Rs 2790 crore crypto transaction, company says hasn't received it yet
3 years, 7 months ago

WazirX gets ED notice over Rs 2790 crore crypto transaction, company says hasn't received it yet

India Today  

The Enforcement Directorate has issued a show-cause notice to India’s leading cryptocurrency exchange platform WazirX and its directors Nischal Shetty and Sameer Mhatre under the Foreign Exchange Management Act 1999, for transactions involving cryptocurrencies worth Rs 2,790.74 crore. “ED has issued Show Cause Notice to WazirX Crypto-currency Exchange for contravention of FEMA, 1999 for transactions involving crypto-currencies worth Rs. “During …

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