• Hacked into cryptocurrency exchange wallets using technical exploits.
• Transferred large sums of digital assets to unauthorized accounts.
• Led to major financial losses and shutdown of trading activities.

3. WazirX Exchange Hack (2024)

Steps of the Fraud:

1. Security Breach:
   • Hackers infiltrated WazirX, a prominent Indian cryptocurrency exchange, exploiting vulnerabilities in its multi-signature wallet system.
2. Unauthorized Transfer:
   • Approximately $234.9 million worth of crypto assets were transferred to addresses controlled by the hackers.
3. Exchange Shutdown:
   • Following the breach, WazirX suspended all trading activities and initiated an investigation.
4. Legal Proceedings:
   • The incident led to legal actions, including lawsuits from affected parties seeking recovery of lost funds.