In a devastating blow to the cryptocurrency community, WazirX, a popular Indian exchange, has fallen victim to a massive hack. The hacker has reportedly siphoned off $149 million worth of altcoins, including SHIB and MATIC, and converted them into Ethereum. According to experts in blockchain security, this tactic is often used by malicious actors to prepare for money laundering, as the native token of Ethereum does not have any built-in mechanisms to freeze or track transactions. This alarming incident highlights the pressing need for stronger cybersecurity measures in the fast-evolving world of digital currencies.