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- WazirX has filed a police report and informed the Financial Intelligence Unit (FIU) and CERT-In about the recent 1900 crore security breach.
- The company is now working with 00+ exchanges to block the identified addresses.
On July 18, the biggest Indian crypto exchange, WazirX today announced on X (formerly Twitter) that it had suffered a severe hack. The company stated one of its multisig wallets has experienced a security breach, leading the company to temporarily pause INR and crypto withdrawals.
In the hack, a total of $234.9M (which is over ₹1900 crore) of WazirX’s funds were stolen. Not to mention, the stolen funds make up more than 45% of the exchange’s $500 million in assets, as WazirX revealed in its June report.
Now, in a new update, WazirX has just announced that they’ve filed a police report and are taking further legal steps. They’ve also informed the Financial Intelligence Unit (FIU) and CERT-In about the incident.
“We’re reaching out to 500+ exchanges to block the identified addresses. Many exchanges are cooperating with us, and we are actively working with them on additional resources to aid our recovery efforts,” wrote WazirX in their X post.
Additionally, the immediate plan for the company involves tracing the stolen funds, recovering customer assets, and conducting a thorough analysis of the cyber attack. The company is collaborating with forensic experts and law enforcement agencies to identify and apprehend those responsible.
