The exchange WazirX is striving to recover from a major cyber attack, encountering external obstacles along the way.
WazirX Cyber Attack
On July 18th, WazirX experienced a major cyber attack that led to the theft of over $230 million in cryptocurrency. The hackers targeted one of the exchange’s multisig wallets, which requires multiple signatures to authorize a transaction. The breach occurred due to a mismatch between the data shown on Liminal’s wallet interface and the actual transactions, enabling the attackers to take control and steal the funds.
Recovery Efforts
WazirX temporarily suspended all trading, deposits, and withdrawals to prevent further losses. The company has been actively working on reclaiming the stolen assets and restoring user confidence. Their efforts include filing complaints with law enforcement and reaching out to over 500 exchanges worldwide, requesting them to block the wallet addresses involved in the theft. Additionally, WazirX has launched a bounty program offering rewards for information leading to the recovery of the stolen funds.
External Interference
According to WazirX, external parties seem more interested in prolonging the situation rather than resolving it. These interferences are delaying the recovery process. The exchange asserts that their chosen path of restructuring is the fastest and most legally sound way to handle the situation, excluding the possibility of bankruptcy or asset liquidation.
WazirX continues its active efforts to recover from the cyber attack despite external interferences, aiming to resolve the issue and regain user trust.
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