WazirX

The post WazirX Update: Restitution of Trades and New Security Measures Underway appeared first on Coinpedia Fintech News In the recent tweet, WazirX is signifying that it is progressing nicely in handling recent issues around the $230 million hack. The platform still has not compensated most of the losses incurred during July 18 – 21, however, it is processing the reversal of transactions that occurred after the suspension of the withdrawal on July 18 at 1 PM IST. Lawyers are…

The post WazirX To Undo Trades Occurred After Its Withdrawal Freeze On July 18 appeared first on Coinpedia Fintech News WazirX has announced plans to undo all trades that occurred following its withdrawal freeze on July 18. “All users will have their portfolio balances on the WazirX platform restored to what they were on 18 July, 2024, 1 p.m. IST,” the exchange wrote. The action will be conducted over the next few days. It added that the decision has not…

The post WazirX To Dump the Plan Of Socializing Losses Following Heavy Backlash appeared first on Coinpedia Fintech News On July 19th, WazirX experienced a significant security breach, resulting in the loss of over $230 million worth of cryptocurrency assets.  WazirX To Distribute Losses Among Customers WazirX announced on Saturday a controversial solution of distributing the loss among all customers. In a blog post last week, WazirX said that it is navigating the situation with transparency and fairness. It stated…

The post Analyzing the WazirX Hack: What Went Wrong and Who’s to Blame? appeared first on Coinpedia Fintech News WazirX, an Indian exchange, on July 18, 2024,  lost more than $230 million of the client’s assets due to a hack. This unfortunate hack has led to more info coming to light after a pseudonymous blockchain analyst Boring Sleuth revealed flawed securities and deceptive actions by wazirx wazirx Centralised ExchangeCrypto trading and Information A recent investigation by Boring Sleuth mainly involved…

The post WazirX Hack: Shocking Revelations Uncover Binance Connection! appeared first on Coinpedia Fintech News Pseudonymous blockchain forensic analyst Boring Sleuth has claimed that the wallet which was recently involved in the wazirx wazirx Centralised ExchangeCrypto trading and Information exploit was once linked to binance binance binance@miceneurol.com Centralised Exchange This statement has created a lot of debate regarding the security measures of large Cryptocurrency trading platforms.  Historical On-Chain research  On Twitter, Boring Sleuth, an on-chain blockchain forensic analyst tweeted, ‘Based…

The post WazirX Under Fire for Poll on Post-Hack Recovery Strategy appeared first on Coinpedia Fintech News WazirX, an Indian crypto exchange, is under fire from customers and industry players for its poll after the $230million hack. The poll, intended to gauge customer preferences, offered two options: obtain 55% of the funds without withdrawals for priority of reimbursement or with second priority of reimbursement. The owner of WazirX, Nischal Shetty, cleared the air during the live Twitter session. He said…

The post $230M Hack Crisis: WazirX Asks Binance for Lifeline Amid Recovery Plan Dispute appeared first on Coinpedia Fintech News WazirX, an Indian crypto exchange that recently lost $230M via a fraudster hack, has elicited criticism for its planned response, passing the losses down to the users. As complaints and dissatisfaction continue to increase, WazirX has sought help from its previous partner – Binance to help it come up with a means of compensating the affected clients. WazirX Unveils a…

The post WazirX REVEALS Community-Driven Recovery Plan After $230 Million Hack Loss appeared first on Coinpedia Fintech News After a devastating cyberattack that resulted in a $230 million loss, wazirx wazirx Centralised ExchangeCrypto trading and Information is turning to its community for recovery. Founder Nischal Shetty and the team have unveiled a comprehensive strategy to mitigate the impact, which involves distributing the losses across users’ crypto portfolios without affecting INR wallet balances. Here’s a detailed rundown. The 55/45 Model: A…

The post WazirX Hack Update: Co-Founder Nischal Shetty Clarifies Misconceptions Amid $230M Loss appeared first on Coinpedia Fintech News India-based cryptocurrency exchange, wazirx wazirx Centralised ExchangeCrypto trading and Information was recently in the crosshairs within days of a July 18 hack that saw $230 million siphoned off. Some of the allegations and misconceptions have been debated and corrected by the owner of the exchange while the recovery goes on. Losses were incurred by the company through a hack on a…