India’s biggest crypto exchange WazirX hit by a cyberattack with over Rs 2,000 crore stolen.
The prime regulatory bodies FIU, IB, and CERT-In actively probe WazirX for the $234m crypto theft.
Soon after the attack, hackers began laundering stolen funds using Tornado Cash.
In a dramatic twist for India’s crypto scene, WazirX, one of the big names in cryptocurrency exchanges, got hit by a cyber hack back in July. Now the big guns- the Financial Intelligence Unit (FIU), Intelligence Bureau (IB) and the Indian Computer Emergency Response Team (CERT-In)- are on the investigation.
The damage is a whopping Rs 2,000 crore, equivalent to $234 million stolen without any evidence. Now, tons of users are left hanging, wondering about refunds and if their digital dough is gone for good.
These agencies have been huddling up with WazirX’s executives trying to figure out what went down. It’s a full-on investigation mode with the FIU looking into the money trail, the IB checking out security lapses, and CERT-In dealing with the tech mess.
WazirX has been pretty upfront, handing over all sorts of logs from servers, laptops, transaction details, and even blockchain addresses that might be linked to the hack. To lay out the facts, the outlook of this hack is quite devastating. They’ve already said that nearly 43% of their users might not see their crypto assets again, with most of the affected users being from India.
And just when an investor might think it couldn’t get worse, the hackers have started moving the stolen crypto. Reports say they’re using Tornado Cash, a crypto mixer that makes it tough to track where the money’s going.
Amidst all this chaos, WazirX reposted a video from their YouTube that promised users a 100% profit on any future rise in crypto prices. However, the crypto community’s got their eyes glued to how this unfolds, because this isn’t just about WazirX—it’s about the safety and security of digital assets in a world where cyber thieves are getting bolder by the day.
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