A global Microsoft Windows error, likely linked to a CrowdStrike software update, disrupted critical services worldwide. The WazirX exchange hacker converted approximately $150 million worth of altcoins to Ethereum, likely to prevent the funds from being frozen or blacklisted. Here are two significant developments that marked the last 24 hours in the crypto market.
Microsoft Team’s Statement
The tech giant Microsoft is facing a widespread outage in Windows systems, causing disruptions to various critical services worldwide, including emergency services, banks, airports, and broadcasters. According to a Forbes report, the failure, which started late on July 18 and continued into the next day, appears to be linked to CrowdStrike’s cybersecurity software. This situation has caused many institutions to struggle with severe operational challenges.
In a post published on X on July 18, the Microsoft 365 Status team reported that they were investigating an issue affecting users’ ability to access various Microsoft 365 applications and services. The banking sector was one of the most affected by this Windows failure. Online banking services were particularly impacted; customers worldwide reported issues with logging in and conducting transactions.
However, the crypto community wasted no time in seizing the opportunity to capitalize on the situation. Since the onset of the incident, new memecoins related to CrowdStrike, the alleged cause of the Microsoft outage, and the Microsoft Blue Screen of Death (BSoD) error screen have been released on the Ethereum and Solana networks.
What’s Happening on the WazirX Front?
The hacker behind the $235 million exploit of the cryptocurrency exchange WazirX converted approximately $150 million worth of altcoins to Ethereum, likely to prevent the funds from being frozen or blacklisted.
According to blockchain analysis firm Spot On Chain, the bulk conversion of funds to Ethereum between July 18-19 included $90.2 million worth of Shiba Inu, $10.2 million of Polygon, and approximately $7.5 million of Pepe (PEPE). The transfers increased the total amount of stolen funds on Ethereum from an initial $52 million to $201 million.
