Over $230 million worth of assets have been illicitly transferred from WazirX’s wallet to the wallet “0x04b2.” This significant breach has led to widespread concern within the cryptocurrency community.
The stolen assets encompass a wide range of cryptocurrencies, some of the most notable being SHIB, ETH, MATIC, PEPE, USDT, and GALA. Specifically, 5.43 trillion SHIB tokens valued at approximately $102 million, 15,298 Ethereum (ETH) coins worth $52.5 million, 20.5 million MATIC tokens totalling $11.24 million, 640.27 billion PEPE tokens amounting to $7.6 million, 5.79 million USDT valued at $5.79 million, and 135 million GALA tokens worth $3.5 million have been reported stolen.Â
These assets represent a significant portion of the funds held by WazirX, one of India’s largest cryptocurrency exchanges.
Hacker’s Activities
The wallet “0x04b2,” which received the stolen assets, has been actively dumping these tokens on the market. This has raised concerns about potential market impacts and the devaluation of the affected cryptocurrencies. The hacker has already dumped 640.27 billion PEPE tokens, worth $7.6 million, causing a notable disturbance in the PEPE market.
This incident marks one of the largest thefts in WazirX’s history, highlighting significant security vulnerabilities. The exchange is expected to take immediate action to mitigate the damage and enhance its security protocols to prevent future breaches. The theft’s impact is profound, affecting not only WazirX’s financial stability but also its reputation and trust within the cryptocurrency community.
The hacker’s ongoing sale of stolen assets is likely to cause further volatility in the cryptocurrency market. Dumping large quantities of tokens such as SHIB, PEPE, and others can lead to significant price drops, affecting investors and traders. The community is closely watching the market movements, with particular attention to the hacker’s activities and WazirX’s response.
