The Indian cryptocurrency exchange WazirX has restored investor balances, almost one month after a huge hack shook the company and stole $234 million from users’ Safe Multisig wallets. Despite these developments, many customers are worried and angry since they do not know when they will be able to withdraw their
The massive cyberattack on WazirX that took place on July 18 has cast a long shadow over the Indian crypto community. The breach, which resulted in a $230 million loss, has shaken the confidence of Indian crypto users, prompting renewed scrutiny of exchange security and the safety of users’ funds.
Panic and fury continue to peak among the Indian crypto community as the crypto exchange WazirX struggles to devise a clear, less controversial recovery plan after the $230 million hack. Following the backlash received from users’ feedback, WazirX plans to reverse trades and restore balances of all user portfolios on
WazirX founder Nischal Shetty has planned the recovery of the stolen assets. He revealed the initial details of the stolen crypto funds and clarified that no security breach occurred before July 18, as misinformation was out about WazirX, and that a few wallets hacked, eight days before the hack. Nischal
Web3 security firm Cyvers has detected multiple suspicious transactions involving prominent Indian exchange WazirX’s Safe Multisig wallet on Ethereum. According to an X post, it is believed that $234.9 million of funds in the Multisig have been moved to a new address. Each transaction’s caller was funded by Tornado Cash,
Amid a global crypto bull market, the Indian crypto community woke up to a rollercoaster ride on their local exchanges as Crypto/INR rates experienced a downward spiral. However, whilst the chaos, founders of major Indian exchanges stepped forward, shedding light on the situation from their unique perspectives. Nischal Shetty, co-founder
WazirX, the Indian crypto exchange, has temporarily halted fiat withdrawals from its trading platforms. Indian crypto users have not been able to withdraw Indian rupees (INR) for over 24 hours. The suspension is due to complications with the crypto exchange’s payment provider. According to the withdrawal page on the trading
In a recent study conducted by CoinGecko, Bitbns, a leading cryptocurrency exchange in India, has emerged as the largest player in the country’s crypto ecosystem. That captured an impressive market share of 79.1% among the top four centralized exchanges. However, concerns have been raised regarding the dominance of Bitbns and
One of the fastest-growing industries in the financial sector is the crypto industry which has escalated exponentially in the last decade. Significantly, the crypto buzz across India is gradually increasing every year. Crypto trading has become popular in India despite its regulatory issues and other challenges. It is clearly known
In a significant development for the crypto trading community, leading cryptocurrency exchange WazirX has announced the introduction of the Indian Rupees (INR) market for trading the popular token, Injective (INJ). This move allows users to seamlessly buy, sell, and trade INJ with INR on the WazirX platform, offering enhanced accessibility
