Indian cryptocurrency exchange WazirX has experienced a massive security breach. In a post on X, the company stated, “At WazirX, our commitment to transparency and community welfare is paramount. There was a cyber attack on one of our multisig wallets.” The breach resulted in the loss of user funds and $230 million in withdrawals, representing over 45% of the total reserves reported in June 2024. WazirX has temporarily paused INR and crypto withdrawals on the platform. “We’re aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident. To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused,” the company wrote in a separate post.
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