WazirX Exchange's $230 Million Crypto Outflow Raises Concerns
CryptoNewsTerminal Staff18 Jul, 2024
WazirX Exchange's $230 Million Crypto Outflow Raises Concerns
Blockchain analytics firm Lookonchain has reported the suspicious transfer of $230 million worth of cryptocurrency from Indian exchange WazirX to an unknown wallet. The recipient address, starting with 0x04b2, has been actively selling the received tokens, including $7.6 million worth of PEPE. Blockchain security expert ZachXBT has also corroborated this information, expressing concern over the potential financial implications. This incident highlights the need for enhanced security measures within the cryptocurrency industry. WazirX has yet to comment on the situation.