# Indian Crypto Exchange Halts Withdrawals After Losing Half Its Reserves in Security Breach 💰

**URL:** <https://onehack.st/t/indian-crypto-exchange-halts-withdrawals-after-losing-half-its-reserves-in-security-breach/287221>\
**Category:** News & Articles\
**Tags:** hacking\
**Created:** [July 18, 2024, 5:20pm UTC](https://onehack.st/t/indian-crypto-exchange-halts-withdrawals-after-losing-half-its-reserves-in-security-breach/287221 "2024-07-18T17:20:16Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![TheJoker](https://onehack.st/user_avatar/onehack.st/thejoker/32/22660_2.png) [@TheJoker](https://onehack.st/u/TheJoker)\
**Post date:** [July 18, 2024, 5:20pm UTC](https://onehack.st/t/indian-crypto-exchange-halts-withdrawals-after-losing-half-its-reserves-in-security-breach/287221/1 "2024-07-18T17:20:16Z")

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**Summary:**

1. **Security Breach Incident** : Indian crypto exchange WazirX confirmed a security breach, resulting in about $230 million in assets being “suspiciously transferred” out of the platform.

2. **Immediate Actions** : WazirX stated that one of its multisig wallets had been compromised and temporarily paused all withdrawals to address the situation.

3. **Assets Affected** : The breach impacted over 200 cryptocurrencies, including significant amounts of SHIB, Ethereum, Matic, Pepe, USDT, and Gala tokens. The exchange had reported $500 million in holdings in its June proof-of-reserves disclosure.

[Read more on TechCrunch](https://techcrunch.com)