India’s Largest Crypto Theft: INR 2,000 Crore Stolen from WazirX Exchange Wallet

In a shocking incident that marks India’s largest crypto theft to date, nearly ₹2,000 crore (approximately $230 million) worth of cryptocurrencies were stolen from a wallet associated with the WazirX exchange last month. This massive theft has resulted in significant financial losses for thousands of people.

WazirX quickly reported the theft to the central cybercrime portal, the Financial Intelligence Unit, and the Indian Computer Emergency Response Team. 

Additionally, a police case was filed in Delhi to address the situation.

Two digital forensics firms, Pelorus Technology and Crystal Intelligence, provided insights into how such a large-scale theft could occur despite the wallets being secured with multi-level authentication. 

Crystal Intelligence, a blockchain intelligence firm, employs a security tool that monitors crypto transactions in real-time, helping trace the stolen funds.

After WazirX shared the identity of the compromised wallet, cyber investigators worldwide used the Crystal tool to track the money trail. 

The investigation revealed that the theft had been planned since July 10, with around 200 transactions originating from the recipient’s wallets on July 18.

On the day of the robbery, the stolen cryptocurrencies were quickly converted into other forms of cryptocurrency and transferred in smaller amounts to multiple wallets linked to two different exchanges. Over just a few days, around 2,000 trans

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