Crypto Theft Perpetrators of WazirX Allegedly a North Korean Hacker
2024-07-18Bittime - Previously, WazirX, one of the largest exchanges in India is suspected of experiencing crypto asset theft. Losses are estimated at $235 million. Related crypto assets even experienced a significant decline in price.
Chronology of Theft Incidents at WazirX
According to analysis from Elliptic, more than $235 million in crypto assets have been moved from wallets WazirX to another wallet identified as "0x04b2". This wallet is known to have started selling stolen assets.
Assets stolen from the platform WazirX covers various types of crypto. The total value of lost assets is estimated at $235 million, and the most stolen was SHIB.
The Alleged Perpetrator is North Korean Hackers
Elliptic, a blockchain analysis provider, suspects the involvement of a hacking group supported by the North Korean state. The group is known for previous cyber attacks targeting financial institutions and crypto platforms around the world.
This allegation adds a geopolitical dimension to the WazirX theft incident, given North Korea's long history of using criminal cyber activities to fund their state programs.
WazirX Response
WazirX has issued an official statement regarding this incident and promised to cooperate with global authorities to thoroughly investigate this case. They also emphasized their commitment to strengthening security protocols to prevent similar incidents in the future.
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