• Indian crypto exchange WazirX experienced a security breach termed a "methodical attack."
• Attackers targeted the exchange's multisig wallet on the Ethereum network.
• WazirX has shut down its crypto transactions following the attack.

Crypto exchange WazirX suffered a security breach in the early hours of Thursday, resulting in a $230 million loss from six stolen assets.

WazirX suffers attack, several tokens stolen

Indian crypto exchange WazirX was the victim of a cyber attack today following a breach of one of its safe multisig wallets. Attackers compromised its multisig wallet on the Ethereum network and quickly stole several tokens.

A multisig wallet requires two or more private keys for confirmation before processing a transaction.

Security firm Cyvers was the first to alert the exchange of the activity in an X post, following several suspicious transfers from the multisig wallet. The hack resulted in a loss of $234.9 million in total.

The stolen cryptocurrencies include ETH ($52.5 million), USDT ($5.79 million), PEPE ($7.6 million), GALA ($3.5 million), MATIC ($11.24 million) and SHIB ($102 million). All tokens were immediately swapped to ETH, and parts have already been sold