The suspect reportedly opened an account under a fake name and sold it to an accomplice, who then allegedly used it to hack the exchange.

Delhi police arrested a West Bengal resident in connection with a hacker attack that drained $235 million worth of crypto from WazirX.

Investigators said they faced challenges obtaining critical data from Liminal Custody, the company securing the exchange's cold wallets.

Indian authorities make first arrest linked to $235 million WazirX hack.

Delhi Police have made progress in investigating the $235 million breach of crypto exchange WazirX by arresting SK Masud Alam from Bengal. On Nov. 13, local media outlet IndiaToday reported that Alam allegedly set up a fake account on WazirX under the alias “Souvik Mondal.

The Indian authority made a huge breakthrough in what can be said the “biggest crypto heist in the country.” Delhi Police arrested an individual named “SK Masud” in connection with the cyberattack on WazirX.

Delhi Police has arrested a West Bengal resident in connection with the $230 million WazirX hack. The suspect allegedly created a fake account and sold it on Telegram to a buyer, who reportedly used it to exploit the exchange security.

Delhi Police have made a breakthrough in the $235 million WazirX hack case, arresting a key suspect in West Bengal.

Delhi Police made a breakthrough in the WazirX hacking case, arresting a key suspect in West Bengal.

Indian police arrested a suspect linked to the $234m WazirX cyberattack for allegedly creating and selling a fake account used to breach the exchange. The post Indian Police Arrest Suspect in Connection with WazirX's $234M Hack appeared first on Cryptonews.

It is another blow for the Indian cryptocurrency exchange WazirX, with the Delhi Police arresting West Bengal-based SK Masud Alam who is thought to have been engaged in a serious hack according to indian news channel India Today.

Indian Police have arrested SK Masud Alam, a resident of West Bengal, for his alleged role in the WazirX hack. Earlier this year, the hack resulted in over $230 million in cryptocurrency losses, as customers were unable to withdraw their funds.

Bitcoin bull run is now underway, with prices soaring to a new all-time high of over $81,800. However, WazirX users are left out of this rally due to the exchange's restructuring.

Reeling from a multi-million dollar hack, the exchange is rolling out new recovery measures.

WazirX plans to launch and distribute recovery tokens to affected users, enabling them to recoup nearly half of their lost assets.

Following a $235 million hack in July 2024, Indian crypto exchange WazirX plans to launch a decentralized exchange in early 2025, featuring its own governance token and user-controlled assets.

WazirX plans to restart trading alongside new features, a recovery token, and a decentralized exchange to make creditors whole.

WazirX announced plans to launch a decentralized exchange (DEX) as part of a broader effort to enhance user security. The move follows a major breach in July, when hackers siphoned $235 million from the platform, sparking concerns over the security of centralized exchanges.

WazirX founder Nischal Shetty also announced the upcoming introduction of staking services to the centralized cryptocurrency exchange.

Indian Crypto Currency Exchange WazirX which was recently hacked for over $230 million, in a latest X post has revealed plans to issue a Recovery Token to settle outstanding debts with creditors. 📢 Recovery Token for Outstanding Debt SettlementWe are working towards launching a Recovery Token.

WazirX, a cryptocurrency exchange that was recently hacked for over $230 million, plans to issue a Recovery Token to settle outstanding debts with creditors. The official announcement said that the token will be airdropped in proportion to creditors on their platform balance, which will offer a tangible route for creditors to recover funds.

WazirX is launching a recovery token for creditors aimed at addressing unpaid debts and recovering assets through methods.

WazirX held its first creditor meeting on October 15 as part of its restructuring efforts after the July hack. Only four out of ten Committee of Creditor (COC) members attended, raising concerns about representation.

CoinDCX launched the world's first decentralized crypto custody feature, allowing 15 million users to maintain control over their digital assets.

Indian crypto exchange CoinDCX has launched the world's first decentralized custody solution, giving users direct control over their crypto assets. According to an Oct. 30 announcement shared with crypto.

The victims of the WazirX hack last July 2024 are now planning a class-action lawsuit. According to multiple sources, a group of victims is finalizing the plans to sue India's largest crypto exchange to recover more than $600,000 in crypto assets.

WazirX faces another hurdle amid its restructuring plan as disgruntled hack victims threaten a class-action lawsuit.

Indian crypto exchange WazirX has disclosed its proof-of-reserves (PoR) report, showing that over 40% of customer assets are stored on third-party exchanges, according to an Oct. 25 statement. The exchange said its PoR dashboard aims to promote transparency by enabling independent verification of its wallet addresses, which include the precise holdings for each asset.

WazirX responds to “ongoing disinformation campaign” allegations with a Proof of Reserves report.

Crypto exchange WazirX launched a Proof of Reserves (PoR) feature on its website as part of its pledge to transparency. As of October 24, WazirX's total assets are valued at $298.17 million.

Crypto exchange WazirX is searching for a new custodian that can offer insurance for user funds, aiming to enhance security and minimize risk.

A row has emerged between India's largest cryptocurrency exchange, WazirX, and its digital custody partner Liminal after a $235 million security breach in July. Over time, however, Liminal has fiercely denied that WazirX is accountable for the cyberattack pointing to the events in the situation as revealing the ongoing nature of the breach.

Liminal Custody has released an update addressing the allegations and misinformation surrounding the Wazirx security breach. The company clarified that while Wazirx blamed it for the incident, the exchange continued using Liminal's infrastructure to manage user funds.

Liminal has addressed the ongoing controversy surrounding WazirX's submission of 240,000 wallet addresses to the Singapore court. The 1,100-page submission has sparked debate within the cryptocurrency community.

Liminal Custody takes a firmer stance on its relationship with WazirX following the exchange's "ongoing disinformation campaign."

WazirX Hack Update: The institutional digital asset custody platform Liminal recently revealed a vital update regarding the Indian crypto exchange's $230 million July hack, sparking discussions globally. On Tuesday, the custodian cleared muddy waters regarding its role in the Indian exchange's recent decision to reveal 240K wallet addresses in the Singapore Court, a move highly

WazirX allegedly moved millions to Bybit and KuCoin, but CEO Shetty defended the actions as necessary while securing a new custodian.

According to Liminal, 75 days after the hack, WazirX still had more than $175 million in its custody despite blaming the custodian for causing the breach.

According to Liminal, 75 days after the hack, WazirX still kept more than $175 million in Liminal custody despite blaming the custodian for causing the breach.

CoinSwitch CEO Ashish Singhal has claimed WazirX transferred about $73.6m in users' crypto to global exchanges Bybit and KuCoin following its major $234m cyber attack in July.

Ashish Singhal, the co-founder of the Indian cryptocurrency exchange CoinSwitch, accused the rival platform WazirX of transferring user assets amounting to $75 million to international exchanges like Bybit and KuCoin. The accusation against Indian exchange came after the July 2024 cyber attack, when more attention was paid to its actions.

CoinSwitch has released a dashboard tracking the movement of funds from WazirX's recently disclosed wallets.

Recently, the connoisseurs of this Indian exchange accused it of siphoning off $75 million to large global exchanges such as Bybit and KuCoin ‘‘without the user's knowledge”.

Following the Rs 2000 crore hack of cryptocurrency exchange WazirX the Delhi High Court has issued notices to India's enforcement agencies Enforcement Directorate (ED) and the Financial Intelligence Unit ( FIU ).

Crypto exchange WazirX's users have raised concerns as the exchange reveals a 45% asset deficit following a cyberattack in July 2024. The company can reportedly only return up to 50% of funds, with withdrawals expected to take at least six months.

"Transparency starts with showing you everything, even if that means sharing what might seem like overwhelming data,” WazirX noted.

WazirX has selected 10 creditors to form a Committee of Creditors (CoC), but the process has raised some transparency concerns among investors on X. The identities of the members remain anonymous, as stated by the company earlier.