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

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Amazon Stock Price Predictions for 2027

Major firms predict Amazon stock will reach $350 per share by 2027, driven by AWS growth and AI advancements.

user avatarDavid Robinson

Tether Partners with Shiga to Launch Financial Products in Africa and Gulf

Tether is transitioning its Wallet Development Kit into financial products for users and institutions in Africa and the Gulf, collaborating with Shiga.

user avatarJacob Williams

Soneium and DayOneDream Join Forces to Tokenize Kpop Revenue Streams

Soneium partners with DayOneDream to tokenize Kpop revenue streams using blockchain technology.

user avatarAndrew Smith

Strive Increases Bitcoin Holdings by 1,107 BTC

Strive has significantly increased its Bitcoin holdings by acquiring 1,107 BTC for approximately $945 million.

user avatarZainab Kamara

Verona Launches verUSD Stablecoin for AI Payments

Verona has launched a new dollar stablecoin, verUSD, designed for AI payments and machine transactions, with over $100 million in institutional commitments.

user avatarAyman Ben Youssef

Blockchain.com Plans IPO to Enter US Public Markets

Blockchain.com is reportedly preparing for an initial public offering that could raise around $500 million.

user avatarSon Min-ho

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.