Biggest Indian Crypto Exchange WazirX Hacked, $230 Million Funds Stolen Funds
India's largest cryptocurrency exchange, WazirX, has suffered a major security breach resulting in the theft of over $230 million in digital assets. WazirX saw withdrawals in early European hours on Thursday (July 18) as a security breach affected one of its wallets, causing the loss of user funds. WazirX, which popularly calls itself as 'India Ka Bitcoin Exchange' confirmed the breach in a post on X, formerly known as Twitter. WazirX primarily targets the Indian market. It is said to be among the few Financial Intelligence Unit (FIU) registered exchanges in the country, allowing it to offer crypto exchange services to Indian citizens.
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Major cryptocurrencies saw a decline on Tuesday as investors braced for the Fed's policy decision and awaited consumer price inflation data due on Wednesday.
As of 12:43 pm IST, Bitcoin was trading 2.3% lower at $67,770, while Ethereum dropped 3.5% to $3,538. Concurrently, the global cryptocurrency market cap also saw a 2.7% decrease, hovering around $2.46 trillion in the last 24 hours.
"The crypto market continued its downward trend over the last 24 hours, marking this week as critical and highly volatile due to the upcoming FOMC meetings and U.S. CPI and PPI announcements," noted the CoinDCX Research Team.
