WazirX Announces Recovery Plan, a WazirX scam? WazirX has announced a recovery plan for users affected by the $230 million hack that hit the exchange in July 2024. Under this plan, victims will receive 85.25% of their portfolio value as recorded on July 18, with the first round of distributions
WazirX made another update as part of its fund recovery process. This time, the exchange is offering complete transparency to its creditors by providing a preliminary creditor list. The latest update also includes a snapshot of balances as of 18th July, 2024. This will allow all creditors to know their
The crypto market has once again been swooned by WazirX’s latest update. The July 2024 hacked exchange is yet to set its fund recovery scheme into motion. Since the hack last year, the exchange has announced several steps and updates, but the lack of fund recovery has caused investors to
WazirX Restructuring plan WazirX users now face a tough decision. The exchange has offered two paths for fund recovery after a massive hack. In July 2024, North Korean hackers stole $235 million from WazirX. The hack wiped out over 40% of the exchange’s assets. Users have been waiting for a
The recent decision by the Singapore High Court approving WazirX’s restructuring plan has sparked debate among the crypto community. After the devastating $234 million hack in July 2024 by North Korea’s Lazarus Group, the exchange now promises to return 75% to 80% of lost funds. While this appears to be
India Should Act on Crypto Regulations Donald Trump is expected to announce new crypto rules soon. Sumit Gupta, CEO of CoinDCX, believes India must act quickly too. He warns that delays could cause India to lose innovation, talent, and value from crypto transactions. Gupta said high taxes and unclear policies
On July 17th, the Indian cryptocurrency exchange WazirX announced that it has frozen $3 million worth of stolen USDT following last year’s massive cyberattack. This marks the first successful recovery of assets since the July 2024 breach, where over $234 million (nearly ₹2000 crore) was siphoned from its Ethereum hot
The WazirX hack of around $230 million has marked one of the biggest crypto losses in 2024. After several months of controversy, the WazirX team has finally announced its recovery plan recently and is planning to distribute funds to the creditors. Meanwhile, other Indian crypto exchanges such as CoinDCX and
The WazirX hack has become one of the most controversial topics of 2024, involving a theft of over $230 million funds. All the users who lost funds in this hack have been waiting for this issue to resolve for several months. The time seems to come where WazirX distributes funds
CoinDCX, one of India’s largest cryptocurrency exchanges, has expressed solidarity with the victims of the WazirX hack. Which resulted in a Rs 2000 crore loss. Co-founders Sumit Gupta and Neeraj Khandelwal have shown interest in stepping in to help recover funds. For the affected users but are currently limited by
