Yesterday, July 18th, 2024, India’s largest cryptocurrency exchange, WazirX, was hacked and lost over $234 million in crypto. Following the attack, WazirX has filed a report with the Indian Police. The exchange says, “…we have filed a police complaint and are pursuing additional legal actions. We will keep the community updated as we proceed.”
WazirX seeks help from legal authorities
According to WazirX’s team post on X, the entity reported the incident to the Indian Computer Emergency Response Team (CERT-In), a Ministry of India institution inside the Department of Information and Communication Technology.
As per Section 70B of the Information Technology Act of 2000, CERT-In is the country’s main agency handling cyber threats such as hacking and phishing. WazirX adds that other crypto exchanges have been of great help.
WazirX team reports, “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.”
Update: In response to the cyber attack, we have filed a police complaint and are pursuing additional legal actions. We will keep the community updated as we proceed.
» Immediate Actions: We have reported the incident to the Financial Intelligence Unit (FIU) and CERT-In.…
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) July 19, 2024
After the hack, WazirX shut down rupee and crypto withdrawals and reported discovering two more exploited smart contracts. Amid the investigations and help from the police, the Indian crypto exchange has made some recovery plans.
Also Read: Crypto Exchange WazirX Hacked for $234M, Hacker Begins Dump
The team reports, “Our immediate plans include tracing the stolen funds, recovering customer assets, and conducting a deeper analysis of the cyber attack. We are collaborating with forensic experts and law enforcement agencies to identify and apprehend the perpetrators.”
Crypto hacks have been rampant in this third week of July.
Cyvers Alerts, the same intelligence entity that blew the whistle on WazirX, reports that Rho Markets has been exploited for over $7.6 million. The exploit results from the protocol’s blockchain oracle breach.
Rho Markets has confirmed the hack, saying, “…During this time, we will be pausing the platform. Most of the pools are safe, so there is no need to worry. We will keep the community updated on the progress of our investigation. The platform functions will be enabled again once everything returns to normal. Thank you for your understanding and patience.”
Also Read: Galaxy Buys $1B ETH from CryptoManufaktur to Expand Staking
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