Cyvers in the News

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,”.

Half Of Investors’ Funds Gone From WazirX In Massive Breach

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^{Cyvers Alerts reported unauthorized transactions} involving their Safe Multisig wallet in which funds were moved to a different wallet on the Ethereum network, suspecting a massive hack at WazirX.

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The transactions reportedly originated from accounts funded by TornadoCash, a cryptocurrency mixing service commonly used to obfuscate transaction trails, which made the experts at Cyvers suspicious.

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^{Cyvers alleged that the transferred funds were swiftly converted} from various digital assets like $PEPE, $GALA, and $USDT into Ethereum ($ETH) and further into other digital assets.