WazirX, a prominent Indian cryptocurrency exchange, has informed its users that they could face significant losses following a major security breach in July 2024 that resulted in the theft of $234 million. The platform is currently undergoing a restructuring process and has sought time from Singapore’s high court to devise a swift recovery plan to assist affected users. The cyberattack, which was initially exposed by the Cyvers system on July 18, 2024, saw the hacker siphon off approximately 2,600 ETH, worth around $6.5 million, to Tornado Cash—a service often used to obscure the origins of illicit cryptocurrency transactions. 🚨ALERT🚨The @WazirXIndia
The post WazirX Faces $234M Hack, Users Could Lose 40% Of Funds Amid Restructuring Efforts appeared first on The Merkle News.
