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

Potential Shift in Washington's Approach to Cryptocurrency Regulation

Tom Lee highlights a possible shift in Democratic lawmakers' willingness to support cryptocurrency legislation following the midterm elections.

user avatarSatoshi Nakamura

OCC Releases New Guidelines for AI in Banking

The US Office of the Comptroller of the Currency (OCC) has released its first supervisory framework for artificial intelligence in banking, focusing on the implications of AI mistakes rather than its capabilities.

user avatarJesper Sørensen

Trump Media Technology Group Shares Experience Significant Decline

Shares of Trump Media Technology Group plunged 14.29% to $5.10, extending a decline that had been ongoing prior to the midterm elections.

user avatarRajesh Kumar

Technology Stocks Show Mixed Results After US Midterm Elections

Technology stocks showed mixed results after the US midterm elections, with some companies gaining while others declined.

user avatarLucas Weissmann

SEC Provides Regulatory Clarity for Canton Coin

The SEC classifies Canton Coin as a digital commodity, providing regulatory clarity for its issuance and distribution model.

user avatarFilippo Romano

Bitbase Launches ORIGIN Points Program to Reward User Engagement

Bitbase has launched the ORIGIN Points program to reward user engagement over 26 weeks, distributing 1,000,000 points weekly starting November 4, 2026.

user avatarEmily Carter

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.