Crypto Exchange WazirX Halts Trading After Major Hack

India's largest cryptocurrency exchange, WazirX, has halted its trading services following a significant hacking incident.

This move comes after a cyberattack last week, suspected to be orchestrated by the infamous Lazarus Group from North Korea, led to the theft of over $235 million in digital assets, including Shiba Inu, Ethereum, PEPE, and GALA.

To safeguard user funds, WazirX has paused trading and withdrawals, citing the hack’s impact on their ability to maintain asset collateralization.

The exchange has launched an extensive investigation, involving forensic data analysis and a security audit, to address the breach and facilitate the resumption of withdrawals.

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In an effort to recover the stolen assets, WazirX has filed a police report, contacted over 500 exchanges to block the hacker’s addresses, and initiated a bounty program.

Additionally, users have reported scam emails from impersonators promising reimbursement through airdrops, prompting WazirX to warn its community to remain vigilant against further fraudulent activities.

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.