At least $230 million worth of cryptocurrency was stolen from India-based cryptocurrency platform WazirX on Wednesday night.

Several Blockchain Security Firms And The researchers The company saw millions of digital coins coming out of the platform. Admitted security breach.

“Our team is actively investigating this incident,” the company said in a message posted on social media Thursday morning. In an effort to preserve remaining assets, the platform halted all withdrawals.

The company did not respond to requests for comment about how it will pay back affected customers. But in one Second statement On Thursday afternoon, Minister X said that initial investigations found the damage to be more than $230 million.

At WazirX, our commitment to transparency and community well-being is paramount. One of our multiseg wallets was cyber-attacked. Below are preliminary results to illustrate the situation:

» Incident Overview: One of our multi-seg wallets was cyber-attacked…

— WazirX: India’s Bitcoin Exchange (@WazirXIndia) 18 July 2024

Despite efforts to protect customers’ assets, attackers appear to have “breached” their security features before they were stolen, Minister X said.

“This is a force majeure event beyond our control, but we are leaving no stone unturned to trace and recover the funds. We have already blocked some deposits and reached out to the respective wallets for recovery. are gone,” the company said.

In June, the company Reported That it had about $500 million in reserves.

Founded in 2017, the platform is one of the largest cryptocurrency exchanges in India, allowing people to buy, sell and trade digital assets. The company was Reportedly bought by Binance in 2019 but both parties later clarified in 2022 that the crypto giant only “intends to purchase certain assets and intellectual property of Minister X.”

including blockchain security companies on Wednesday night oval, Arkham And Block Sec He said that there is clear evidence of withdrawal of cryptocurrency worth lakhs from Minister X.

Elliptic estimated losses at $235 million and broke down the stolen currencies, including ETH, some US dollar-pegged stablecoins and more.

The attackers “have already exchanged many of these tokens for Ether,” according to Elliptic, which attributed the incident to hackers linked to North Korea with blockchain data and a review by the company. Based on other information provided.

Another prominent crypto hack researcher said There are possible signs of an attack. The Lazar Group attack” — referring to a prominent North Korean hacking group known for stealing headline-grabbing crypto platforms.

United Nations experts 58 are investigating cyber attacks. Cryptocurrency firms allegedly run by North Korean hackers allowed the attackers to make nearly $3 billion over a six-year period.

Cybercriminals and nation-states continue to exploit vulnerabilities in crypto platforms that enable large-scale heists. Just this week, saw another popular crypto platform About $8 million was stolen. And last month Bitcoin was worth more than $300 million. theft From Japanese cryptocurrency exchange DMM Bitcoin.

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