- Binance's Denial of Responsibility
- WazirX's Response and CEO Criticism
- Ongoing Investigations and Rumors
Binance has denied any claims to compensate WazirX users following a cyber attack that resulted in losses exceeding $230 million.
Binance's Denial of Responsibility
Cryptocurrency exchange Binance has stated it is not responsible for the recent hack of Indian crypto exchange WazirX, which led to the theft of over $230 million in assets. After the incident, WazirX reached out to Binance, seeking compensation for affected users, claiming an acquisition agreement between the exchanges. In response, Binance flatly denied these claims, stressing the deal between Binance and WazirX was never completed.
WazirX's Response and CEO Criticism
In response to the attack, WazirX filed for a legal moratorium in Singapore to restructure and develop a recovery plan. Partial INR withdrawals have resumed, but cryptocurrency trading services are not yet fully restored. WazirX CEO Nischal Shetty faced criticism for not acting quickly enough during the crisis and for the subsequent reinstatement of withdrawals. Speculation has arisen that the hack might have been perpetrated by hackers associated with North Korea, though WazirX has yet to confirm these rumors.
Ongoing Investigations and Rumors
The incident is still under investigation, and affected users await further updates. Although partial withdrawals have been restored, full cryptocurrency trading functionality on the WazirX platform has yet to be resumed. The information that North Korean hackers might be behind the attack has not been officially confirmed.
Investigations into the massive WazirX hack continue, with losses amounting to over $230 million. Binance insists that all compensation obligations lie with WazirX.
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