In a major blow to the Indian cryptocurrency scene, WazirX, a leading exchange, was hit by a cyberattack that resulted in the loss of a staggering $230 million. The exchange is now fighting back on multiple fronts.
As per recent updates, WazirX has filed a police complaint following a $230 million hack on Thursday. The firm has also reported the incident to the Indian Computer Emergency Response Team (CERT-In), as announced on X.
Engaging with CERT suggests that WazirX is seeking assistance from India’s leading agency for addressing computer security incidents.
Moreover, the company stated that numerous exchanges were cooperating with them and their immediate actions include tracing the stolen funds, recovering customer assets, and conducting an in-depth analysis of the cyber attack. The company is also working with forensic experts and law enforcement agencies to identify and apprehend those responsible.
In India, once a complaint is lodged, the police prepare an FIR if they deem an official investigation necessary. Therefore, the next step could potentially include the police conducting a detailed examination of WazirX’s financial records, operating systems, and security measures.
WazirX, which is registered with FIU-India under the Finance Ministry, has submitted an incident report to the body. However, since the FIU is responsible for monitoring transactions under the Prevention of Money Laundering Act (PMLA), the security breach at WazirX does not fall within its scope. The FIU declined to comment when approached in person.
