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Indian crypto exchange WazirX charts recovery path after $235M cyberattack

[Jan 10 8:38 AM] WazirX has implemented a Singapore-backed restructuring plan to recover from the $235 million cyberattack in July 2024.

Singapore Court Grants WazirX Four-Month Conditional Moratorium

[Sep 26, 2024 4:22 AM] A Singapore court has granted Indian cryptocurrency exchange WazirX a four month moratorium based on certain conditions on Thursday, an industry source told CoinDesk.

Binance Rejects Wazirx’s Claims — Denies Responsibility for Hack Consequences

[Sep 18, 2024 12:45 AM] Crypto exchange Binance has responded to accusations from Wazirx and Zettai about how its dispute with Wazirx affects user funds lost in the July cyberattack. The company insists that responsibility for the incident lies with Wazirx’s management…

Extremely Unlikely WazirX Customers Will Be Made Whole in Crypto Terms: Legal Advisers

[Sep 2, 2024 8:47 AM] It is extremely unlikely that WazirX customers will be made whole in crypto terms through the restructuring, legal advisers of the Indian cryptocurrency exchange said.

WazirX Asks Singapore Court for 6 Months to Restructure Liabilities as CoinSwitch Weighs Legal Action

[Aug 28, 2024 12:13 PM] Indian rival CoinSwitch said it is likely to sue the hacked crypto exchange, where $9.6 million worth of deposits were held.

Wazirx Begins INR Withdrawal Phase 1: Users Can Withdraw Up to 33%

[Aug 26, 2024 1:45 PM] Indian crypto exchange Wazirx has initiated the first phase of INR withdrawals, permitting eligible users to withdraw up to 33% of their INR balances. Co-founder Nischal Shetty noted that the timeline for the second phase remains uncertain due to…

Wazirx Founder Denies Remaining Assets Are Gone, Warns About New Fake Account Trend

[Aug 25, 2024 2:20 PM] Wazirx co-founder Nischal Shetty has addressed concerns about the remaining assets following the cyberattack, stating that misinformation has caused unnecessary fear by suggesting these assets are also gone. He emphasized that such claims are…

Wazirx Defends Restructuring Decision — Founder Assures ‘Not Bankruptcy or Liquidation’

[Aug 24, 2024 4:30 PM] Indian crypto exchange Wazirx has defended its restructuring strategy in response to the July 18 cyberattack that led to the theft of over $230 million. The company emphasized that this approach is the quickest and most legally sound way to address…

Wazirx Tells Users: Google’s Mandiant Confirms No Breach on Laptops During Cyberattack

[Aug 19, 2024 2:25 PM] Indian crypto exchange Wazirx says cybersecurity firm Mandiant, a Google subsidiary, has confirmed that Wazirx team laptops were not compromised during the $230 million cyberattack. The exchange added that attention is now focused on custodian…

WazirX Ends Custody Relationship With Liminal, Is Moving Funds to New Multisig Wallets

[Aug 14, 2024 10:20 AM] Indian cryptocurrency exchange WazirX, which suffered a $230 million exploit in July, is ending its relationship with custody provider Liminal.

Wazirx Update: Trade Reversals Near Completion, 344 Bounty Entries Received

[Aug 13, 2024 1:30 PM] Indian crypto exchange Wazirx says it is close to completing the reversal of trades after the $230 million cyberattack. “We’re working with legal experts to help us formulate an effective method for enabling withdrawals,” the…

Wazirx Announces FIR Filing Following Major Cyberattack

[Aug 6, 2024 4:16 PM] Indian crypto exchange Wazirx has updated users about the recent cyberattack, confirming the filing of a First Information Report (FIR) to address the hack. Cofounder Nischal Shetty emphasized that a police complaint was made the day after the…

Crypto community slams WazirX’s 'socialized losses' plan after hack

[Aug 3, 2024 1:50 PM] As WazirX navigates this crisis, the firm faces the challenge of rebuilding trust with its user base and the broader crypto community.

WazirX Co-Founder Nischal Shetty Says All Options Are on the Table for Fund Recovery

[Jul 30, 2024 4:48 PM] Indian cryptocurrency exchange WazirX’s co-founder Nischal Shetty told CoinDesk that outreach efforts to different exchanges "are going to be crucial," as it remains open to "everything that is possible to help solve this situation."

Coindcx Urges Wazirx to Reconsider Passing 45% Losses to Customers

[Jul 30, 2024 3:07 AM] The CEO of Indian crypto exchange Coindcx has criticized Wazirx’s approach in response to a recent $230 million cyberattack. Urging Wazirx to take responsibility, he stressed: “Making customers directly absorb the 45% losses is utter…

Wazirx Says ‘Poll Is Not Final’ — Shares Additional Cyberattack Recovery Plan

[Jul 29, 2024 3:20 PM] Indian crypto exchange Wazirx has assured users that the poll conducted to gather input for reopening the platform following the recent major cyberattack is not final and “not legally binding upon the users or Wazirx.” Co-founder…

Wazirx Rolls Out Socialized Loss Strategy Across All Users Post $230M Cyberattack

[Jul 27, 2024 8:05 AM] Indian cryptocurrency exchange Wazirx is implementing a socialized loss strategy to distribute the impact of the recent $230 million cyberattack among all its users. The exchange stated that 55% of users’ crypto assets will be accessible…

Wazirx Details Plan to Resume Withdrawals and Trading — Insists Signers’ Machines Show ‘No Evidence of Compromise’

[Jul 25, 2024 9:22 AM] Indian crypto exchange Wazirx has provided an update on its progress to enable users to withdraw funds and resume trading on its platform following a cyberattack that caused a loss of over $230 million. “Our preliminary investigation reveals…

Wazirx Prepares Poll for User Input on Resuming Withdrawals and Trading

[Jul 24, 2024 7:16 AM] Indian crypto exchange Wazirx is setting up a poll to let customers decide on reopening the platform for withdrawals, deposits, and trading. “Some options have emerged to help with the recovery which we’re exploring,” said Wazirx…

Wazirx Offers $23M Bounty to Recover Stolen Assets After Massive Security Breach

[Jul 21, 2024 8:40 AM] Indian crypto exchange Wazirx has announced a $23 million bounty program to recover assets stolen in a cyberattack on its multisig wallet. Emphasizing community involvement, co-founder Nischal Shetty outlined the rewards for tracking, freezing, and…

WazirX launches bounty program to recover stolen assets

[Jul 20, 2024 5:05 AM] The exchange remains focused on addressing the impact on customer funds and ensuring the security and integrity of their platform.

Indian Crypto Exchange Wazirx Calls Binance’s Allegations ‘False and Unsubstantiated’ — Seeks Recourse

[Feb 8, 2023 10:30 PM] Indian crypto exchange Wazirx has denied the allegations made by Binance regarding the relationship between the two crypto exchanges. Emphasizing that the allegations “are false and unsubstantiated,” Wazirx stressed. “As far as…