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Indian cryptocurrency exchange WazirX has announced that customers will be able to withdraw their Indian Rupee balances starting from August 26. The WazirX team noted in its announcement on Aug.
Indian crypto exchange Wazirx has announced that INR withdrawals will resume in phases starting on Aug. 26, following a cyberattack that disrupted services. To manage crypto balances, Wazirx plans to implement a Singapore Scheme of Arrangement to facilitate the distribution of crypto assets.
Users of the Indian crypto exchange will be able to take out up to 66% of their rupee funds in two phases following a suspension instituted after last month's $230 million dollar hack.
Starting August 26, 2024, WazirX will lift the suspension on Indian rupee withdrawals in stages and reduce withdrawal fees by 60%.
WazirX, one of India's largest crypto exchanges, has provided a crucial update on the status of user withdrawals. It also outlined the next steps in tackling the hack fiasco.
As WazirX's CEO pleads for calm, users simmer over frozen funds in month-long crypto lockdown.
Indian cryptocurrency exchange WazirX has announced that the exchange will be canceling all open orders currently placed on the exchange. The move is part of their efforts to settle the issue of INR and crypto balances on the exchange.
WazirX, one of the biggest cryptocurrency exchanges in India has made some serious moves after the $230 million hack that transpired on the platform recently. As part of its continual operational recovery, the exchange declared that all open orders on the platform had been deactivated.
Indian crypto exchange WazirX has canceled all outstanding open orders on its platform to address issues regarding Indian rupee and cryptocurrency balances.
The move by WazirX is part of "ongoing efforts to resolve the issue surrounding INR and crypto balances on the platform."
It follows the exchange's $230 million hack in July, which saw hackers make off with $102 million worth of Shibu Inu tokens, among others.
Last month, WazirX experienced a massive security breach that resulted in the loss of nearly half of its holding assets. The attack specifically targeted a multi-signature (multisig) wallet, which is designed to require multiple private keys for transaction authorization.
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.
A recent cyberattack on WazirX, one of India's largest digital currency exchanges, saw $230 million stolen after an investigation by Google Subsidiary, which found that WazirX was not breached at all. The hack of its multi-sig wallet reduced WazirX's assets by almost 45%.
In a recent update on the ongoing hack investigation, the WazirX exchange has declared that its systems and laptops were not compromised during the $230 million cyberattack. This assurance follows a thorough forensic investigation by Mandiant Solutions, a Google subsidiary.
WazirX has released a report stating that its laptops were uncompromised during the cyber attack it suffered a month ago. Forensic analysis by Google subsidiary Mandiant Solutions backed up the Indian exchange's report.
About a month after hackers breached WazirX, leading to a $234m loss, Google-owned cybersecurity firm Mandiant cleared the crypto exchange, confirming there were no security breaches.
WazirX exchange experienced a massive hack that bled more than $230 million worth of clients' funds. After halting withdrawals, the exchange restored the account balances and conducted maintenance activity on one of its Safe Multisig wallets that had been compromised during the hack.
Nearly a month after a massive hack led to the loss of $234 million from WazirX's Safe Multisig wallet, the Indian crypto exchange has restored investor balances.
The delay in withdrawals has impacted individual investors and raised concerns about the overall security and reliability of cryptocurrency exchanges.
WazirX customers take to X to express frustration about delayed INR and crypto withdrawals.
Indian crypto exchange Wazirx has informed users that it is focusing on resolving issues related to INR and crypto balances. The exchange emphasized that both solutions require ongoing legal analysis and urged users not to panic. Wazirx acknowledged users' frustration but cautioned that drastic actions could cause further delays.
WazirX set to restore balances nearly a month after a crippling security breach, leaving users anxious over access to their funds.
WazirX, the hacked Indian crypto exchange, announced a maintenance period to restore account balances and cancel specific trades.
