A crypto exchange based out of India has confirmed a multi-million dollar security breach on a multi-sig wallet.
According to the India-based exchange WazirX, the incident has led the exchange to temporarily halt Indian rupee (INR) and crypto withdrawals.
“Update: We’re aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident.
To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused. Thank you for your patience and understanding. We’ll keep you posted with further updates.”
Crypto sleuth ZachXBT says he was able to follow the WazirX back to the original exploiter’s address.
Through tracking the token’s movements through different Ethereum (ETH) addresses and crypto mixers, ZachXBT suggests that one notorious crypto hacking group from North Korea could be behind the breach.
“This is where my tracing ends as the BTC appears to come from an unknown service making it difficult to trace.
All I can say is the WazirX hack has the potential markings of a Lazarus Group attack (yet again)
Hopefully, the WazirX team will be transparent with their findings.
I solved the Arkham bounty where I identified a KYC (know-your-customer) exchange deposit made by the WazirX hacker
Unfortunately, this is probably not super helpful as KYC-verified accounts can be easily purchased online for any exchange.”
According to crypto data firm Arkham Intelligence, ZachXBT’s analysis is right on the money.
“This bounty has been solved by ZachXBT submitted definitive evidence of a KYC-linked deposit address used by the exploiter to receive funds from the WazirX exploit. This fulfills one of the criteria of the bounty – ‘Identifying a KYC centralized exchange deposit’. This information will be shared with the WazirX team.”
You can read ZachXBT’s full analysis here.
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