Cyvers in the News

Indian crypto exchange falls victim to $235M hack

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^{Web3 security firm Cyvers has detected “multiple suspicious transactions"} involving WazirX’s Safe Multisig wallet on Ethereum.

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According to an X post, it is believed that $234.9 million of funds in the Safe Multisig wallet of the Indian crypto exchange have been moved to a new address, with each transaction’s caller funded by Tornado Cash, the decentralized protocol for private transactions.

North Korean Hackers Are Suspected in $235 Million Crypto Theft

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^{Blockchain security firm Cyvers said} $234.9 million of assets have been drained from the exchange and moved to a new address.

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^{Based on the Cyvers estimate} , the amount lost from the multiple-signature wallet on WazirX would be one of the biggest crypto thefts in recent years and comes just a month after Japanese crypto exchange DMM Bitcoin lost over $300 million in a hack, renewing concerns around the sector that has been vulnerable to similar exploits.

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Breaking Indian Crypto Exchange WazirX Halts Withdrawals After a $234.9 Million Hack

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^{Cyvers expressed concerns that the WazirX Safe wallet} may have been compromised by a potentially malicious entity. After the transfer, the suspicious address began a series of cryptocurrency swaps.

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^{Deddy Lavid, CEO of Cyvers, shared insights with BeInCrypto:} “The use of TornadoCash to fund the transactions is indicative of methods used in previous high-profile attacks. While it is too early to definitively link this incident to the Lazarus Group, the similarities are concerning.

Cyvers is closely analyzing the situation,”.