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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

US Law Blocks Federal Reserve from Issuing Digital Currency Until 2030

chest

US Congress passed a law blocking the Federal Reserve from issuing a digital currency until 2030.

user avatarRajesh Kumar

ECB Executive Addresses Privacy Concerns of Digital Euro

chest

Piero Cipollone from the European Central Bank addresses privacy concerns regarding the digital euro, emphasizing user privacy and transaction confidentiality.

user avatarLucas Weissmann

Bitcoin Futures Traders Abandon Crypto for Stablecoin Margin

chest

Bitcoin futures traders have largely abandoned using Bitcoin as collateral for their positions, opting for stablecoin-backed positions to avoid risks associated with price drops.

user avatarFilippo Romano

Gold Prices Surge to Three-Month High

chest

Gold prices surged to a three-month high, reaching $4,696.18 an ounce, driven by a weaker dollar and falling Treasury yields.

user avatarEmily Carter

BNB Smart Chain Set to Activate Pasteur Hard Fork

chest

BNB Smart Chain is set to activate its Pasteur hard fork on August 25, introducing significant network changes.

user avatarKaterina Papadopoulou

TAC Halts Block Production Due to Supply Exploit

chest

TAC, a Cosmos-based EVM sidechain connected to the TON ecosystem, has halted block production after a supply-related exploit.

user avatarTomas Novak

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.