WazirX, a Mumbai-based cryptocurrency exchange, has confirmed a significant security breach resulting in the theft of over $235 million from one of its multisig wallets.

The incident, which occurred early Thursday morning, has led to an immediate halt in Indian rupee withdrawals as the company investigates. Crypto withdrawals were already suspended at the time of the incident, according to multiple customers of the exchange reached via Telegram.

In a statement posted on X, WazirX acknowledged the breach, calling it “a force majeure event beyond our control, but we are leaving no stone unturned to locate and recover the funds.”

Security and blockchain monitoring services identified…

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