The well-known crypto assets exchange WazirX in India recently encountered a major security incident, resulting in a massive loss of approximately $235 million. This event not only shocked the crypto assets market but also sparked speculation about the possible renewed involvement of the North Korean hacker organization Lazarus Group.

The incident occurred on July 18, when WazirX officially announced a security vulnerability in its multi-signature wallet, promptly suspending all withdrawals of crypto assets and Indian Rupees. According to data from the Cyvers platform, this attack triggered 133 critical security alerts.

The renowned on-chain analysis expert ZachXBT conducted an in-depth investigation into this incident. He found that the hacker used KYC-verified accounts to transfer the stolen funds to exchange addresses. However, ZachXBT pointed out that these accounts were likely registered using KYC certification information purchased on the black market, making the tracking process even more complicated.

What is more striking is that ZachXBT believes that the method of this attack is very similar to the modus operandi of the Lazarus Group in the past. The Lazarus Group has repeatedly attacked Crypto Assets exchanges and DeFi projects, with the most famous case being the $600 million large-scale attack on Axie Infinity. They typically use multi-layer mixing tools to obscure the flow of funds, making tracking exceptionally difficult.

This incident also exposed the challenges faced by crypto assets exchanges in asset management. Even with security measures such as multi-signature wallets, it is still impossible to completely avoid the occurrence of security vulnerabilities. At the same time, how to transparently handle user assets after an attack has become a key factor affecting user trust.

As hacker attack methods continue to evolve, the Crypto Assets industry faces increasing security pressures. Exchanges need to continuously enhance their security measures, while regulatory bodies also need to strengthen their oversight of the industry to protect investors' interests. This incident reminds us once again that in the rapidly evolving world of Crypto Assets, security is always an eternal theme.