• 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

2 years 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.

chest

Other news

XRPL Lending Proposal Opens Door To Institutional Credit

chest

The XRPL community is currently voting on amendments that could enhance institutional credit infrastructure on the XRP Ledger.

user avatarArif Mukhtar

TRON Stablecoin Volume Reaches 196T Amid Rising USDT Demand

chest

In Q1 2026, TRON processed a staggering 196 trillion in stablecoin transactions, primarily fueled by the low-fee TRC20 USDT transactions.

user avatarMaria Gutierrez

Diverging Futures Trends for Solana and Dogecoin

chest

Recent market activity shows a significant divergence in the futures trends of Solana and Dogecoin, with Dogecoin's open interest falling and Solana's rising, indicating different market sentiments.

user avatarDavid Robinson

XRP Shows Positive Onchain Activity Amid Reduced Speculative Leverage

chest

XRP shows a significant increase in daily active addresses alongside a decrease in speculative derivatives leverage, indicating a healthier market environment.

user avatarAndrew Smith

Binance Withdraws MiCA Application from Greece

chest

Binance has withdrawn its MiCA application from Greece after reports indicated it would be denied, seeking approval through another EU member nation.

user avatarZainab Kamara

Binance Faces $200 Million Lawsuit in the UK

chest

Binance and its founder Changpeng Zhao are facing a UK lawsuit seeking nearly $200 million for allegedly offering complex financial instruments without regulatory approval.

user avatarJacob Williams

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.