World Crypto Global
- Written by: Tareq Sikder
- Thu, 18 Jul 2024
- Israel
Today (Thursday), Cyvers Alert, a Web3 security firm,announced the detection of multiple suspicious transactions involving WazirXsSafe Multisig wallet on Ethereum. The firm identified that $234.9 million infunds from the wallet were transferred to a new address.Each transactions caller was funded by Tornado Cash, adecentralized protocol for private transactions. The new address has alreadyswapped the transferred funds, which comprised Tether.Funds Shifted SecretlyCrypto sleuth ZachXBT, in a Telegram post in theInvestigations by ZachXBT channel, announced that the suspected primaryattacker address still has over $104 million to dump. A review of the addressholdings revealed the wallet mainly contains approximately $100 million inShiba Inu. It also holds $4.7 million in FLOKI, $3.2 million in Fantom, $2.8million in Chainlink, and $2.3 million in Fetch.ai. The remaining fundsare split between a wide range of other tokens.More than $230M of assets have been abnormally transferred from the #WazirX(@WazirXIndia) wallet to the wallet"0x04b2".Currently, wallet "0x04b2" is dumping these assets, and has dumped 640.27B $PEPE($7.6M).https://t.co/wem0wVk7OH pic.twitter.com/66Poia2qAk Lookonchain (@lookonchain) July 18, 2024In response to the security breach, WazirX has temporarilypaused the withdrawal of cryptocurrencies and INR on its platform. The exchangeposted on X, formerly known as Twitter, explaining that they are activelyinvestigating the incident and will provide updates as the situation develops.Increasing Crypto Security BreachesEarlier, CoinStats, a crypto portfolio management platform, experienceda major security breach, as reported by Finance Magnates. Thissophisticated hack involved social engineering, tricking an employee intocompromising the company's AWS infrastructure, resulting in the theft of $2million in crypto assets.Cybercriminalsexploited Orbit Bridge, a service of the cross-chain protocol Orbit Chain,stealing about $82 million in cryptocurrencies. Orbit Chain confirmed theattack occurred on December 31, 2023, and is currently investigating the issuewith international law enforcement.This article was written by Tareq Sikder at www.financemagnates.com.
