Following a $230 million hack, WazirX, one of India's leading cryptocurrency exchanges, has caught the community's eye with active fund movements.
WazirX Activity Raises Interest
Recent wallet activities of WazirX and purchases of tokens like ETH, SHIB, PEPE, and LINK have sparked speculations about a potential recovery plan. The exchange clarified these actions are part of an 'asset rebalancing' process necessary for asset safety and final distribution preparation. WazirX pledged to make all cold wallet details and token holdings public once this process completes.
Binance's Role: Rumors and Facts
A recent $200 million transfer to a WazirX wallet from a Binance-linked wallet fueled rumors that the world’s largest crypto exchange might be aiding in reimbursements. The consolidated WazirX wallet currently holds more than $201 million. Previously, Binance denied involvement in WazirX's hack and asked the exchange to take full responsibility.
Current Investigation Updates
The hacking of WazirX, suspected to be linked to the Lazarus Group, was executed via a fake account sold through Telegram. Importantly, WazirX's internal systems were not compromised. Delhi Police arrested a suspect related to the hack. Despite many stolen funds being laundered with Tornado Cash, complicating recovery, WazirX has taken legal steps in Singapore High Court for finalizing a recovery plan.
With recent developments, there is growing optimism within the crypto community. The WazirX token has seen a price increase, mirroring trends with other troubled platforms as they move towards recovery.
