The exchange attributed the transfer of assets to a data inconsistency with a custodial platform. However, many prominent members of the Indian crypto community are skeptical of this explanation.
The exploiter associated with North Korea that exploited WazirX has converted the majority of the $230 million stolen user assets into ether. This has amounted to $200 million.
This exploit has had a significant impact on WazirX’s liquidity and the prices of listed tokens, leading to a 40% drop in the exchange’s WRX token over the past 24 hours.
WazirX cited a discrepancy between a digital interface and a major crypto wallet as the cause of the exploit, despite the fact that the exchange had five signers on the wallet that stored user assets.
The bitcoin/rupee trading pair on WazirX plunged by 22% in 24 hours, while CoinDCX and Zebpay only dropped by 2%. The shiba inu/rupee pair witnessed a sharp 30% decline. WazirX’s WRX token also fell by 40% in a day.
Despite a security breach, trading volumes on WazirX spiked to $8 million in the past day, up from $2.2 million on Wednesday.
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