WazirX, a prominent Indian cryptocurrency exchange, faced a security breach early on Thursday, leading to over $230 million in withdrawals during European hours. The incident affected one of its multisig wallets, resulting in the loss of user funds.

“We are investigating a security breach involving one of our multisig wallets. As a precautionary measure, we have temporarily paused INR and crypto withdrawals to safeguard your assets. We appreciate your patience and will provide updates as we progress,” WazirX announced in a statement posted on X.