Indian cryptocurrency exchange WazirX, owned by Binance, reported a security breach resulting in the theft of over $235 million worth of cryptocurrencies, including SHIB and ETH.

The hack, possibly involving North Korean agents, exploited an external service used for confirming transactions.

WazirX has halted Indian rupee withdrawals and witnessed a 21% drop in its exchange token value, WRX.

The stolen coins were quickly exchanged for Ether and laundered through Tornado Cash.

Despite implementing security measures, WazirX is working to recover the stolen funds, though concerns arise over the exchange's ability to fully reimburse customers.

This incident underscores the ongoing challenges and risks faced by cryptocurrency exchanges in ensuring security and user trust.