WazirX Hackers: Behind the $235 Million Theft
The hackers responsible for the $235 million WazirX cryptocurrency exchange breach began their preparations at least 8 days before the attack, as revealed by Polygon Labs’ security director. This meticulous planning allowed them to carry out a sophisticated hack that resulted in significant losses for the exchange.
The Initial Intrusion
It all started with a breach in WazirX’s multi-signature wallet system on Thursday, July 18. The hackers exploited vulnerabilities in the system, gaining access to millions of dollars in cryptocurrencies. Despite the exchange’s security measures, the hackers managed to stay undetected for several days, siphoning off funds without alerting the exchange’s security team.
Trace of the Hack
Investigators later discovered a trail of transactions leading back to the hackers, indicating that they had meticulously planned and executed the theft over a period of time. The sophisticated nature of the attack suggests that the hackers may have had inside knowledge of the exchange’s security protocols, allowing them to navigate around the system undetected.
Recovering from the Breach
WazirX has since taken steps to improve its security measures and prevent future breaches. The exchange has implemented additional layers of security, including regular security audits and updates to its system protocols. Despite the significant losses incurred, WazirX remains committed to ensuring the safety and security of its users’ funds.
