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Binance Disclaims Responsibility for $235,000 Loss from WazirX Cyberattack

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by Giorgi Kostiuk

a year ago

  1. Cyberattack Situation
  2. Binance's Position
  3. Indian Authorities' Reaction


    4. Binance has issued a statement denying any responsibility for the $235,000 loss resulting from a cyberattack on the WazirX platform in July 2024.

    Cyberattack Situation

    The cyberattack targeted a multisignature wallet containing user assets. The wallet had signatures from five WazirX team members and one from the third-party custody service, Liminal.

    Binance's Position

    Binance asserted that it did not participate in the administration or operations of the aforementioned wallet. The company emphasized that efforts to assign blame to it are 'deflection tactics.'

    Binance has also encouraged the WazirX team under Zanmai/Zettai to assume full responsibility for compensating users impacted by the attack.

    Indian Authorities' Reaction

    Indian authorities acknowledge Zanmai as the owner of WazirX. Binance insists that it bears no responsibility for any operational or legal duties arising from the platform's recent issues.

    In conclusion, Binance denies any involvement and responsibility for the cyberattack on WazirX, urging the platform's owners to compensate the affected users.

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