BREAKING: Cryptocurrency Exchange Loses Over $230M in Recent Hack

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Written by

Alexander Stefanov

Last Updated: Jul 18, 2024

Time to Read: 1 min

Reports are surfacing that a cryptocurrency exchange has been drained of $234 million.

Indian crypto exchange WazirX’s Safe Multisig wallet on the Ethereum network has apparently been compromised, per data from CYVERS.

A total of $234.9M has been moved to a new address. Each transaction’s caller is funded by TornadoCash.

PeckShield also reported about this exploit in a recent tweet.

Tether and Bitfinex Face Market Manipulation Allegations

The suspicious address has swapped PEPE, GALA, and USDT to ETH and continues to swap other digital assets.

#crypto#Ethereum#pepe

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Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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Article Details

Written by

Alexander Stefanov

Last Updated: Jul 18, 2024

Time to Read: 1 min

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