• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

WazirX Hack: Investigating the $235 Million Crypto Heist

user avatar

by Giorgi Kostiuk

a year ago


Indian cryptocurrency exchange WazirX has faced a major breach resulting in a $235 million loss. With potential insider involvement suspected, the exchange is actively cooperating with government authorities in the investigation.

Investigation of the Incident

WazirX has reportedly provided detailed server logs, transaction trails, and blockchain addresses to authorities related to the hack. While no physical assets have been seized, the exchange continues to engage in regular meetings with regulatory bodies.

Transparency Measures

To enhance transparency, WazirX plans to disclose wallet addresses via court affidavits and respond to user queries. The exchange aims to form a 10-member committee of creditors to oversee the restructuring process.

Consequences and Recovery Plans

WazirX's parent company, Zettai, has initiated discussions with 11 potential partners to improve user fund recoveries. The attack significantly impacted the exchange, prompting a search for a Scheme of Arrangement in Singapore.

The WazirX incident highlights the importance of regulation in the cryptocurrency industry and the need to protect investor interests. Ensuring security and transparency remains a key priority for the exchange and its partners.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

MEXC Exchange Advocates for Faster Listings Amid Industry Debate

chest

MEXC Exchange's chief strategy officer, Cecilia Hsueh, advocates for faster listings and lower fees in response to the ongoing debate between Binance and Coinbase.

user avatarSon Min-ho

Geopolitical Risks Weigh on Stock Market Outlook

chest

The stock market is facing significant geopolitical risks tied to Russia and sanctions, with escalating tensions potentially disrupting key sectors and investors seeking safer assets.

user avatarMohamed Farouk

Market Trends and Whale Activity Influence PEPE Price Predictions

chest

Current market trends and whale activity are significantly influencing the price predictions for PEPE. Analysts suggest that while a price rally to $1 remains largely unrealistic, there is cautious optimism for gradual recovery and steady growth.

user avatarAyman Ben Youssef

Increased Buying Activity Signals Potential Recovery for PEPE

chest

Recent trends show that both retail investors and whale holders are actively buying PEPE tokens at lower prices, suggesting a potential market bottom.

user avatarTando Nkube

C1 Fund Inc Acquires Shares in Ripple

chest

C1 Fund Inc announces its acquisition of shares in Ripple, a leader in enterprise blockchain technology, to support advancements in blockchain finance.

user avatarKofi Adjeman

Bitfarms Shifts Focus to AI and HPC Solutions

chest

Bitfarms has pivoted from cryptocurrency mining to focus on Artificial Intelligence and High-Performance Computing, leading to a 315% increase in stock price this year.

user avatarNguyen Van Long

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.