Indian Cryptocurrency Exchange WazirX Suffers Major Security Breach, Losing $231 Million

The Indian cryptocurrency exchange WazirX has reportedly suffered a major security breach, with its multisig wallet suspected to be compromised.

A major security breach has occurred at Indian cryptocurrency exchange WazirX, with its multisig wallet suspected to be compromised. According to blockchain security firm Beosin Alert, over 200 tokens were stolen from the exchange, resulting in a total loss of approximately $231 million.

Beosin Alert reported that the stolen funds were traced to ChangeNOW and Binance, with the exploiter's deposit address at Binance being 0xf92949ab576ac2f8dc9e4650e73db083f1f9cd9f.

Beosin Alert also identified the attacker's address as 0x6eedf92fb92dd68a270c3205e96dccc527728066 and noted that the attacker deployed an attack contract at address 0x27fd43babfbe83a81d14665b1a6fb8030a60c9b4.

The attacker's contract was designed to withdraw specified token assets from it. By obtaining signature data from the WazirX multisig wallet, the attacker modified the wallet's logic contract to the pre-deployed attack contract.

The attacker then submitted a token withdrawal transaction to the WazirX multisig wallet. Due to the proxy pattern mechanism, the wallet contract used delegatecall to call the relevant functions of the attack contract, which ultimately transferred the wallet's tokens to the attacker's address.

The stolen assets include significant amounts of various tokens, with the total loss valued at around $230 million. Some of the affected tokens include SHIB, ETH, MATIC, PEPE, GALA, and USDT.

WazirX is currently investigating the breach and working with authorities and other exchanges to trace and recover the stolen funds. This incident has raised concerns about the security of multisig wallets and the vulnerabilities that can be exploited by advanced attackers.

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