WazirX, whih is claims itself as 'India Ka Bitcoin Exchange,' has faced a major loss due to a major data breach which results in stealing of over $230 million which is equivalent to 1,920 crore in digital assets.

The company saw a  huge withdrawals in the early European hours on Thursday as the platform has got a security breach which turned into the biggest theft which reflected in its wallets, causing the loss of user funds.

While WazirX has confirmed the breach, the company has completed a preliminary investigation and temporarily suspended all withdrawals.

In a post WazirX earlier wrote,“We are aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident. To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused. Thank you for your patience and understanding as we work through this. We will keep you updated with further information.”

A cyber attack on one of our multisig wallets resulted in a loss of funds exceeding $230 million. This wallet was managed using Liminal's digital asset custody and wallet infrastructure starting from February 2023.

The company also added that, despite implementing robust security features, including the Gnosis Safe multisig smart contract platform and Liminal’s whitelisting policy, it appears that the cyber attackers managed to breach these measures, leading to the theft of assets.

According to Coindesk, blockchain sleuth Elliptic suggests that North Korea-linked hackers may be behind the attack. Early data from Lookonchain shows the largest losses were $100 million in Shiba Inu (SHIB) tokens, followed by $52 million in Ether (ETH), $11 million in Matic (MATIC), and $6 million in Pepe (PEPE).

The report also noted that transactional data suggests the exploiter is actively selling the stolen assets via the on-chain exchange Uniswap. It appears that the ETH holdings have not yet been sold, and the exploiter retains over $4.2 million in FLOKI tokens.