wazirX
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"WazirX Reveals Proof of Reserves After $230M Hack; Total Assets Drop Over 40%"
Detailed Analysis of WazirX's Post-Hack Proof of Reserves and Financial Standing
1. Background on the Hack and Financial Damage
In July 2024, WazirX, one of India’s largest cryptocurrency exchanges, suffered a major cyberattack that resulted in a $230 million loss, impacting approximately 45% of its user funds. This marked one of the most significant breaches in crypto history, with North Korean state-sponsored hackers speculated to be involved. The stolen assets included $97 million in Shiba Inu tokens, $52.6 million in Ethereum, and $11 million in Polygon.
2. Proof of Reserves (POR) Announcement
On October 25, WazirX disclosed its first POR since the hack, revealing a sharp decline of over 40% in total assets compared to its pre-hack status. The reserves now amount to $298.17 million, down from $503.64 million reported in June 2024. This includes on-chain assets of $157.01 million, third-party custody holdings of $126.91 million, and $14.25 million classified as illiquid due to ongoing investigations.
3. Transparency Efforts
WazirX has been implementing a detailed POR system to rebuild user trust. This includes categorizing assets into cold wallets, third-party custody, and small unswept wallet balances across over 240,000 addresses. Transparency initiatives such as publishing wallet addresses and engaging with custody providers are central to this effort.
4. Legal and Recovery Actions
The exchange has partnered with over 500 platforms globally to track and recover stolen funds. It has filed legal cases and sought support from blockchain analytics firms. To further aid recovery, WazirX plans to launch a recovery token for affected users, enabling them to recoup part of their losses.
5. Broader Implications for the Crypto Industry
The hack highlights vulnerabilities in centralized crypto platforms. In response, WazirX announced plans to launch a decentralized exchange (DEX) in 2025, focusing on enhanced security and user control over funds. This shift aims to align with global trends toward decentralization, as seen in competitor platforms adopting similar measures.
6. Market Trust and Future Plans
Despite the setback, WazirX continues operations and is engaging with regulators to address compliance concerns. The POR publication is part of broader efforts to regain market confidence and showcase financial stability in the aftermath of the breach.
7. Stakeholder Concerns
Affected users have voiced frustration, with some planning class-action lawsuits to recover lost funds. The launch of the recovery token and promises of decentralized features are seen as partial measures to placate these concerns.
8. Impact on Indian Crypto Regulations
The hack has intensified scrutiny on Indian crypto exchanges, influencing regulatory discussions around cybersecurity and transparency. WazirX’s response could serve as a case study for shaping future policies.
9. Lessons for the Industry
The incident underscores the need for robust security frameworks, transparent reserve management, and decentralized asset control. It also highlights the role of community engagement in addressing large-scale crises.
10. Conclusion and Moving Forward
WazirX’s POR publication, combined with its strategic pivot to decentralization and recovery plans, reflects its commitment to navigating a challenging period. Its success in regaining trust and stability could set a benchmark for crisis management in the cryptocurrency ecosystem.
#CryptoHacker #wazirX #XRPTrends #AIAndGameFiBoom #BitwiseFiles10ETFs
1. Background on the Hack and Financial Damage
In July 2024, WazirX, one of India’s largest cryptocurrency exchanges, suffered a major cyberattack that resulted in a $230 million loss, impacting approximately 45% of its user funds. This marked one of the most significant breaches in crypto history, with North Korean state-sponsored hackers speculated to be involved. The stolen assets included $97 million in Shiba Inu tokens, $52.6 million in Ethereum, and $11 million in Polygon.
2. Proof of Reserves (POR) Announcement
On October 25, WazirX disclosed its first POR since the hack, revealing a sharp decline of over 40% in total assets compared to its pre-hack status. The reserves now amount to $298.17 million, down from $503.64 million reported in June 2024. This includes on-chain assets of $157.01 million, third-party custody holdings of $126.91 million, and $14.25 million classified as illiquid due to ongoing investigations.
3. Transparency Efforts
WazirX has been implementing a detailed POR system to rebuild user trust. This includes categorizing assets into cold wallets, third-party custody, and small unswept wallet balances across over 240,000 addresses. Transparency initiatives such as publishing wallet addresses and engaging with custody providers are central to this effort.
4. Legal and Recovery Actions
The exchange has partnered with over 500 platforms globally to track and recover stolen funds. It has filed legal cases and sought support from blockchain analytics firms. To further aid recovery, WazirX plans to launch a recovery token for affected users, enabling them to recoup part of their losses.
5. Broader Implications for the Crypto Industry
The hack highlights vulnerabilities in centralized crypto platforms. In response, WazirX announced plans to launch a decentralized exchange (DEX) in 2025, focusing on enhanced security and user control over funds. This shift aims to align with global trends toward decentralization, as seen in competitor platforms adopting similar measures.
6. Market Trust and Future Plans
Despite the setback, WazirX continues operations and is engaging with regulators to address compliance concerns. The POR publication is part of broader efforts to regain market confidence and showcase financial stability in the aftermath of the breach.
7. Stakeholder Concerns
Affected users have voiced frustration, with some planning class-action lawsuits to recover lost funds. The launch of the recovery token and promises of decentralized features are seen as partial measures to placate these concerns.
8. Impact on Indian Crypto Regulations
The hack has intensified scrutiny on Indian crypto exchanges, influencing regulatory discussions around cybersecurity and transparency. WazirX’s response could serve as a case study for shaping future policies.
9. Lessons for the Industry
The incident underscores the need for robust security frameworks, transparent reserve management, and decentralized asset control. It also highlights the role of community engagement in addressing large-scale crises.
10. Conclusion and Moving Forward
WazirX’s POR publication, combined with its strategic pivot to decentralization and recovery plans, reflects its commitment to navigating a challenging period. Its success in regaining trust and stability could set a benchmark for crisis management in the cryptocurrency ecosystem.
#CryptoHacker #wazirX #XRPTrends #AIAndGameFiBoom #BitwiseFiles10ETFs
Wazirx Update $230m Cyberattack
WazirX Cyberattack: Bengal Man Arrested in Rs 2,000 Crore Crypto Heist
A jaw-dropping cyberattack on WazirX in July shook India’s crypto community, resulting in a massive loss of Rs 2,000 crore worth of digital assets. Here’s everything you need to know, broken down into easy points:
The Cyber Heist – What Happened?
1. Massive Breach: WazirX suffered a massive security breach on July 18, losing almost 45% of its holding assets.
2. Hot Wallet Drained: #hackers targeted WazirX’s hot wallet, which stores online funds, and even attempted to breach its cold wallet (offline funds with extra security).
3. Multi-Signature Wallet Compromise: The heist involved a multi-signature wallet with six signatories—five from #wazirX and one from Liminal Custody, their wallet security provider.
Breakthrough Arrest – Who’s Behind It?
Prime Accused Arrested: Delhi Police arrested SK Masud Alam, a resident of West Bengal, from East Midnapore.
Fake Account Setup: Alam allegedly created a fake WazirX account under the name Souvik Mondal and sold it on #Telegram . The account was later used by another individual, M Hasan, to execute the hack.
Liminal Custody’s Role Under Scrutiny
Alleged Non-Cooperation: Liminal Custody, the firm responsible for securing WazirX’s wallets, is accused of not cooperating with the investigation.
Liminal Responds: The company denied these claims, stating it has been fully cooperating with authorities and committed to transparency.
WazirX has shared authorities with KYC details and transaction logs.
Authorized Devices Seized: Investigators have seized three laptops used by WazirX’s authorized signatories for wallet transactions.
Why It Matters for Crypto Traders
1. WazirX Users Impacted: The breach highlights the importance of strong wallet security for traders.
2. Spotlight on Custody Providers: The incident raises questions about the role of third-party custody solutions like Liminal.
3. Regulatory Push Needed: The case shows a growing need for stricter compliance and secure multi-sig wallet practices in India’s crypto space.
What’s Next?
The investigation continues as authorities dig deeper into the misuse of multi-sign wallets and the hacking methods used.
A supplementary chargesheet will address Liminal Custody's alleged lapses further.
About WazirX
Launched in 2018, WazirX is one of India’s leading crypto exchanges, allowing users to trade #Cryptocurrencies like Bitcoin and Ethereum. The platform also integrates with Binance and offers staking, peer-to-peer trading, and its native token (WRX).
Key Takeaway for Crypto Traders
This incident is a wake-up call! Ensure the security of your funds, always use reliable wallets, and stay updated on exchange safety practices.
For more updates on WazirX and crypto safety tips, stay tuned!
Disclaimer: This is just for the educational purpose not a Financial advice, please DYOR before investing anywhere. (Particularly in Local Exchanges).
$WRX
A jaw-dropping cyberattack on WazirX in July shook India’s crypto community, resulting in a massive loss of Rs 2,000 crore worth of digital assets. Here’s everything you need to know, broken down into easy points:
The Cyber Heist – What Happened?
1. Massive Breach: WazirX suffered a massive security breach on July 18, losing almost 45% of its holding assets.
2. Hot Wallet Drained: #hackers targeted WazirX’s hot wallet, which stores online funds, and even attempted to breach its cold wallet (offline funds with extra security).
3. Multi-Signature Wallet Compromise: The heist involved a multi-signature wallet with six signatories—five from #wazirX and one from Liminal Custody, their wallet security provider.
Breakthrough Arrest – Who’s Behind It?
Prime Accused Arrested: Delhi Police arrested SK Masud Alam, a resident of West Bengal, from East Midnapore.
Fake Account Setup: Alam allegedly created a fake WazirX account under the name Souvik Mondal and sold it on #Telegram . The account was later used by another individual, M Hasan, to execute the hack.
Liminal Custody’s Role Under Scrutiny
Alleged Non-Cooperation: Liminal Custody, the firm responsible for securing WazirX’s wallets, is accused of not cooperating with the investigation.
Liminal Responds: The company denied these claims, stating it has been fully cooperating with authorities and committed to transparency.
WazirX has shared authorities with KYC details and transaction logs.
Authorized Devices Seized: Investigators have seized three laptops used by WazirX’s authorized signatories for wallet transactions.
Why It Matters for Crypto Traders
1. WazirX Users Impacted: The breach highlights the importance of strong wallet security for traders.
2. Spotlight on Custody Providers: The incident raises questions about the role of third-party custody solutions like Liminal.
3. Regulatory Push Needed: The case shows a growing need for stricter compliance and secure multi-sig wallet practices in India’s crypto space.
What’s Next?
The investigation continues as authorities dig deeper into the misuse of multi-sign wallets and the hacking methods used.
A supplementary chargesheet will address Liminal Custody's alleged lapses further.
About WazirX
Launched in 2018, WazirX is one of India’s leading crypto exchanges, allowing users to trade #Cryptocurrencies like Bitcoin and Ethereum. The platform also integrates with Binance and offers staking, peer-to-peer trading, and its native token (WRX).
Key Takeaway for Crypto Traders
This incident is a wake-up call! Ensure the security of your funds, always use reliable wallets, and stay updated on exchange safety practices.
For more updates on WazirX and crypto safety tips, stay tuned!
Disclaimer: This is just for the educational purpose not a Financial advice, please DYOR before investing anywhere. (Particularly in Local Exchanges).
$WRX
Binance has invited Zanmai Labs, the entity operating Indian crypto exchange WazirX, to work out arrangements to withdraw any remaining assets held in Binance wallets, according to a blog post on Friday.
#crypto2023 #bearorbull #Binance #wazirX #cryptoonindia
#crypto2023 #bearorbull #Binance #wazirX #cryptoonindia
Indian cryptocurrency exchange WazirX has shut down its NFT marketplace. The website states that the “marketplace has been sunseted.” However, users can still trade their NFTs on OpenSea, according to the website.
#wazirX #nftmarket #closed #BTC #cryptoonindia
#wazirX #nftmarket #closed #BTC #cryptoonindia
WazirX has announced that one of their multisig wallets has been compromised. To ensure the safety of assets, INR and crypto withdrawals will be temporarily paused while the team investigates and works on a solution.
#wazirX #ETH_ETF_Approval_23July #BinanceTournament #SOFR_Spike
#wazirX #ETH_ETF_Approval_23July #BinanceTournament #SOFR_Spike
🚨 Major Security Breach: WazirX Hack Details 🚨
Key Points:
- 🔒 Indian Exchange Hacked:WazirX reportedly compromised.
- 🔍 Cyvers Findings: Multiple suspicious transactions detected.
- 💰 Total Loss:Approximately $234.9 million in crypto stolen.
Details of Stolen Assets:
- 🐕 5.43T SHIB:Worth $102M
- 💎 15,298 ETH: Worth $52.5M
- 🔗 20.5M MATIC: Worth $11.24M
- 🪙 640.27B PEPE: Worth $7.6M
- 💵 5.79M USDT: Worth $5.79M
- 🎮 135M GALA: Worth $3.5M
🔗 Actions: Swapped PEPE, GALE, and USDT to ETH.
Stay updated for more information.
#pepe⚡ #wazirX #WazirXHacked
Key Points:
- 🔒 Indian Exchange Hacked:WazirX reportedly compromised.
- 🔍 Cyvers Findings: Multiple suspicious transactions detected.
- 💰 Total Loss:Approximately $234.9 million in crypto stolen.
Details of Stolen Assets:
- 🐕 5.43T SHIB:Worth $102M
- 💎 15,298 ETH: Worth $52.5M
- 🔗 20.5M MATIC: Worth $11.24M
- 🪙 640.27B PEPE: Worth $7.6M
- 💵 5.79M USDT: Worth $5.79M
- 🎮 135M GALA: Worth $3.5M
🔗 Actions: Swapped PEPE, GALE, and USDT to ETH.
Stay updated for more information.
#pepe⚡ #wazirX #WazirXHacked
wazirx#wazirX got hacked and officials says servers are compromised , but what about the loss
are they going to compensate the traders?
answers yet to be posted.
are they going to compensate the traders?
answers yet to be posted.
WazirX to Phase In Indian Rupee Withdrawals Starting Aug. 26
Indian crypto exchange WazirX has announced that it will re-enable rupee withdrawals on the platform. However, the rupee withdrawal services will be reintroduced in a phased manner with users getting access to withdraw 66% of their INR balances on the exchange over the next month.
Specifically, the exchange said its customers could withdraw half the limit (33%) from Aug. 26 to Sept. 8 and the remainder (33%) from Sept. 9 to Sept. 22.
The company stated that it had to continue keeping the remaining 34% of their INR balances frozen due to investigations by law enforcement agencies. The timeline for the release of those frozen balances is unclear.
#wazirX #cryptoindia #MtGoxRepayments #PowellAtJacksonHole #CryptoMarketMoves
Indian crypto exchange WazirX has announced that it will re-enable rupee withdrawals on the platform. However, the rupee withdrawal services will be reintroduced in a phased manner with users getting access to withdraw 66% of their INR balances on the exchange over the next month.
Specifically, the exchange said its customers could withdraw half the limit (33%) from Aug. 26 to Sept. 8 and the remainder (33%) from Sept. 9 to Sept. 22.
The company stated that it had to continue keeping the remaining 34% of their INR balances frozen due to investigations by law enforcement agencies. The timeline for the release of those frozen balances is unclear.
#wazirX #cryptoindia #MtGoxRepayments #PowellAtJacksonHole #CryptoMarketMoves
The live price of WazirX is $ 0.195604 per (WRX / USD) with a current market cap of $ 74.69M USD. 24-hour trading volume is $ 39.99M USD. WRX to USD price is updated in real-time. WazirX is +35.58% in the last 24 hours with a circulating supply of 381.86M. #wazirX #topaltcoins
You missed $2000 in a single trade in a single day from my signal
check my last post and the result below the post
it got boosted ,20% plus
if you've $10000 in your wallet, then it's a gain of $2000
This is what the smart trading
stay tuned for more signals
and stay in touch with$WRX #wazirX until the issue of ban got settled
you'll get a chance of either shorting or longing
Have a great year ahead enjoy
check my last post and the result below the post
it got boosted ,20% plus
if you've $10000 in your wallet, then it's a gain of $2000
This is what the smart trading
stay tuned for more signals
and stay in touch with$WRX #wazirX until the issue of ban got settled
you'll get a chance of either shorting or longing
Have a great year ahead enjoy
🚨🚨WazirX to restore balances of accounts, undo all trades affected by hack
WazirX will notify users via email about the impacted trades and account reversals over the next few days.
Liam 'Akiba' Wright
Aug. 8, 2024 at 12:35 pm UTC
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WazirX to restore balances of accounts, undo all trades affected by hack
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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WazirX has announced the restoration of user balances and the reversal of trades conducted between July 18 and July 21. This decision follows a $230 million attack that disrupted platform operations on July 18, leading to the suspension of withdrawals. Per WazirX, this measure is intended to ensure equitable treatment for all users affected by the incident.
After feedback from numerous users, WazirX has decided to restore all account balances to their state as of July 18, at 1 P.M. IST. The restoration process will unfold over the next few days, and affected users will receive email notifications detailing the impacted trades. This decision aims to protect the platform’s integrity and provide a fair outcome for users following the abnormality caused by the cyberattack.
All trades executed within the period will be rendered ineffective, and any associated fees and referrals will be reversed. Users who deposited fiat or crypto during this period will have their transactions addressed in a future update. During restoration, trading and withdrawals on the platform will remain halted.
Tax implications, such as Tax Deducted at Source (TDS) associated with the affected trades, will be credited back to the users. The restoration will affect INR and crypto balances to the extent that trades involving these currencies were executed after the specified time.
#wazirX #MarketDownturn #TONonBinance #XRPVictory
WazirX will notify users via email about the impacted trades and account reversals over the next few days.
Liam 'Akiba' Wright
Aug. 8, 2024 at 12:35 pm UTC
X
Telegram
WazirX to restore balances of accounts, undo all trades affected by hack
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Ad
WazirX has announced the restoration of user balances and the reversal of trades conducted between July 18 and July 21. This decision follows a $230 million attack that disrupted platform operations on July 18, leading to the suspension of withdrawals. Per WazirX, this measure is intended to ensure equitable treatment for all users affected by the incident.
After feedback from numerous users, WazirX has decided to restore all account balances to their state as of July 18, at 1 P.M. IST. The restoration process will unfold over the next few days, and affected users will receive email notifications detailing the impacted trades. This decision aims to protect the platform’s integrity and provide a fair outcome for users following the abnormality caused by the cyberattack.
All trades executed within the period will be rendered ineffective, and any associated fees and referrals will be reversed. Users who deposited fiat or crypto during this period will have their transactions addressed in a future update. During restoration, trading and withdrawals on the platform will remain halted.
Tax implications, such as Tax Deducted at Source (TDS) associated with the affected trades, will be credited back to the users. The restoration will affect INR and crypto balances to the extent that trades involving these currencies were executed after the specified time.
#wazirX #MarketDownturn #TONonBinance #XRPVictory
🚀 Trade Ideas from altFINS:
Bullish Moves:
Trade Setup: #Ethereum $ETH Approaching Support
AI Chart Pattern: #wazirX $WRX : Channel Down, Profit Potential: +21%
Signals Summary: Early Momentum (MACD Histogram) Inflection for 229 #altcoins
Market Highlights: Early Bullish Momentum Inflection: $BTC $ETH $BNB
#cryptotradingpro #bitcoin☀️ #altcoinscrash
Bullish Moves:
Trade Setup: #Ethereum $ETH Approaching Support
AI Chart Pattern: #wazirX $WRX : Channel Down, Profit Potential: +21%
Signals Summary: Early Momentum (MACD Histogram) Inflection for 229 #altcoins
Market Highlights: Early Bullish Momentum Inflection: $BTC $ETH $BNB
#cryptotradingpro #bitcoin☀️ #altcoinscrash
Here are the top 3 crypto news stories today:
Bitcoin Price Breaks $65K. Bitcoin has gained strength and is currently trading above $65,000. This positive development follows the fading of concerns over Mt. Gox BTC payouts. There is optimism among analysts who believe that Bitcoin could reach new highs this week, especially if current trends hold.
SEC Approves Multiple Ethereum ETF Launches. According to reports, the SEC has granted preliminary approval to at least three (3) issuers of an Ethereum ETF. The crypto industry is facing a turning point since these developments may encourage institutional investors to put money in Ethereum.
Indian Crypto Exchange WazirX Hacked for $235 Million. A hack on Indian cryptocurrency exchange WazirX led to losses amounting to $235 million in SHIB, Ether, and Bitcoin amongst other cryptocurrencies. This event underscores the need for enhanced safety measures by crypto exchanges and their clients alike.
#bitcoin #wazirX #MtGox钱包动态
Bitcoin Price Breaks $65K. Bitcoin has gained strength and is currently trading above $65,000. This positive development follows the fading of concerns over Mt. Gox BTC payouts. There is optimism among analysts who believe that Bitcoin could reach new highs this week, especially if current trends hold.
SEC Approves Multiple Ethereum ETF Launches. According to reports, the SEC has granted preliminary approval to at least three (3) issuers of an Ethereum ETF. The crypto industry is facing a turning point since these developments may encourage institutional investors to put money in Ethereum.
Indian Crypto Exchange WazirX Hacked for $235 Million. A hack on Indian cryptocurrency exchange WazirX led to losses amounting to $235 million in SHIB, Ether, and Bitcoin amongst other cryptocurrencies. This event underscores the need for enhanced safety measures by crypto exchanges and their clients alike.
#bitcoin #wazirX #MtGox钱包动态
A massive $230 million hack has struck #wazirX - India's largest #cryptocurrency exchange. The breach affected assets like Shiba Inu $SHIB and $PEPE
The compromised funds were moved to a new address and swapped for #Ethereum by entities using Tornado Cash. The stolen assets include 5.43 trillion SHIB ($102M), 15,298 ETH ($52.5M), 20.5M MATIC ($11.24M), and 640.27B PEPE ($7.6M).
#HackerAlert #TrendingTopic
The compromised funds were moved to a new address and swapped for #Ethereum by entities using Tornado Cash. The stolen assets include 5.43 trillion SHIB ($102M), 15,298 ETH ($52.5M), 20.5M MATIC ($11.24M), and 640.27B PEPE ($7.6M).
#HackerAlert #TrendingTopic
Indian Exchange Wazirx Hacked 🚨🚨🚨
- $234 Million Drained From Indian Exchange WazirX: WazirX, an Indian cryptocurrency exchange, has been hacked, resulting in a loss of $234 million. The exchange has suspended withdrawals.
- Stablecoins and Illicit Transactions: A recent report by Chainalysis found that stablecoins make up the majority of illicit transaction volumes.
- Robinhood “Refer-A-Friend” Settlement: A judge has approved a $9 million settlement deal between Robinhood and a group of plaintiffs in a class-action lawsuit related to the company's "refer-a-friend" program.
- Ethereum Enterprise Alliance Releases Standard for DeFi Protocols: The Ethereum Enterprise Alliance has released the first standard for DeFi protocols, which aims to provide a framework for the development of decentralized finance protocols.
- OKX Chooses Malta as MiCA Hub: OKX, a cryptocurrency exchange, has chosen Malta as its MiCA (Markets in Crypto-Assets) hub, which will serve as the company's base for compliance with EU regulations.
- Judge Reduces Sentencing for Ethereum Developer Virgil Griffith: A judge has reduced the sentencing for Ethereum developer Virgil Griffith by seven months.
- Bankrupt Crypto Lender BlockFi to Initiate Temporary Distribution via Coinbase: BlockFi, a bankrupt cryptocurrency lender, is set to initiate a temporary distribution of assets via Coinbase.
- South Korean Prosecutors Request Crypto Market Maker Arrest Warrant: South Korean prosecutors have requested an arrest warrant for a cryptocurrency market maker in connection with an altcoin fraud case.
- Nigerian Police Arrests Crypto Influencer BLord: Nigerian police have arrested a cryptocurrency influencer, BLord, for alleged crypto fraud and offenses.
- Greek Government to Impose Crypto Taxes Starting 2025: The Greek government has announced plans to impose taxes on cryptocurrency profits starting in 2025.
#wazirX
#Write2Earn!
#dumpNpump
- Stablecoins and Illicit Transactions: A recent report by Chainalysis found that stablecoins make up the majority of illicit transaction volumes.
- Robinhood “Refer-A-Friend” Settlement: A judge has approved a $9 million settlement deal between Robinhood and a group of plaintiffs in a class-action lawsuit related to the company's "refer-a-friend" program.
- Ethereum Enterprise Alliance Releases Standard for DeFi Protocols: The Ethereum Enterprise Alliance has released the first standard for DeFi protocols, which aims to provide a framework for the development of decentralized finance protocols.
- OKX Chooses Malta as MiCA Hub: OKX, a cryptocurrency exchange, has chosen Malta as its MiCA (Markets in Crypto-Assets) hub, which will serve as the company's base for compliance with EU regulations.
- Judge Reduces Sentencing for Ethereum Developer Virgil Griffith: A judge has reduced the sentencing for Ethereum developer Virgil Griffith by seven months.
- Bankrupt Crypto Lender BlockFi to Initiate Temporary Distribution via Coinbase: BlockFi, a bankrupt cryptocurrency lender, is set to initiate a temporary distribution of assets via Coinbase.
- South Korean Prosecutors Request Crypto Market Maker Arrest Warrant: South Korean prosecutors have requested an arrest warrant for a cryptocurrency market maker in connection with an altcoin fraud case.
- Nigerian Police Arrests Crypto Influencer BLord: Nigerian police have arrested a cryptocurrency influencer, BLord, for alleged crypto fraud and offenses.
- Greek Government to Impose Crypto Taxes Starting 2025: The Greek government has announced plans to impose taxes on cryptocurrency profits starting in 2025.
#wazirX
#Write2Earn!
#dumpNpump
*Details of the WazirX Hack*
- *Hackers Stole $230 Million*: The Indian cryptocurrency exchange WazirX was hacked, and hackers stole around $230 million worth of cryptocurrency ¹ ² ³ ⁴ ⁵.
- *North Korean Hackers*: Blockchain sleuth Elliptic has stated that North Korean hackers are responsible for the attack ¹.
- *Security Breach*: WazirX has confirmed that there was a security breach in one of its multisig wallets ¹ ³.
- *Multisig Wallets*: Multisig wallets are a type of crypto wallet that requires two or more private keys to authenticate and confirm transactions before they are processed ¹.
- *Stolen Funds*: The stolen funds account for over 45% of the exchange's $500 million holdings ¹.
- *Withdrawals Paused*: WazirX has temporarily paused withdrawals to ensure the safety of assets ¹ ² ³ ⁴.
- *Investigation*: The WazirX team is actively investigating the incident and will post updates as the situation unfolds ¹ ² ³.$BTC
#Write2Earn!
#marketdump
#wazirX
- *Hackers Stole $230 Million*: The Indian cryptocurrency exchange WazirX was hacked, and hackers stole around $230 million worth of cryptocurrency ¹ ² ³ ⁴ ⁵.
- *North Korean Hackers*: Blockchain sleuth Elliptic has stated that North Korean hackers are responsible for the attack ¹.
- *Security Breach*: WazirX has confirmed that there was a security breach in one of its multisig wallets ¹ ³.
- *Multisig Wallets*: Multisig wallets are a type of crypto wallet that requires two or more private keys to authenticate and confirm transactions before they are processed ¹.
- *Stolen Funds*: The stolen funds account for over 45% of the exchange's $500 million holdings ¹.
- *Withdrawals Paused*: WazirX has temporarily paused withdrawals to ensure the safety of assets ¹ ² ³ ⁴.
- *Investigation*: The WazirX team is actively investigating the incident and will post updates as the situation unfolds ¹ ² ³.$BTC
#Write2Earn!
#marketdump
#wazirX
WAZIRX HACKING SCANDAL: USERS DEMAND CBI INVESTIGATION‼️‼️‼️‼️
WazirX, India's largest cryptocurrency exchange, was hacked for $234.9 million. Users are angry and demand a CBI investigation, alleging insider involvement and unfair compensation. They accuse WazirX of manipulative practices and seek accountability and fair compensation for their losses.
$BTC $ETH $SOL
#wazirX #Write2Earn! #ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #MtGoxJulyRepayments
WazirX, India's largest cryptocurrency exchange, was hacked for $234.9 million. Users are angry and demand a CBI investigation, alleging insider involvement and unfair compensation. They accuse WazirX of manipulative practices and seek accountability and fair compensation for their losses.
$BTC $ETH $SOL
#wazirX #Write2Earn! #ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #MtGoxJulyRepayments
My personal thoughts on this-
Look as an Indian living abroad, I hate that this happened, cause I do want to see this space expand and be adopted back home.
Indians understand the stringent governmental regulations around crypto in India, this hack gives the govt. something to poke at, in the name of keeping investors safe.
Fact is if you’ve been in crypto long enough you know the saying not your keys not your crypto, nonetheless for those that intended to keep their funds safe with the hope of keeping it longterm are definitely going to have their faith broken in this space.
The narrative of crypto being a scam continues. This is possibly going to propel adoption backwards.
Sad day.
Also this is the exact reason why security is of the utmost importance, check out our video on security measures in this space🔽
@Being Invested
#wazirX $WRX #Bitcoin❗
🤩🤩
Look as an Indian living abroad, I hate that this happened, cause I do want to see this space expand and be adopted back home.
Indians understand the stringent governmental regulations around crypto in India, this hack gives the govt. something to poke at, in the name of keeping investors safe.
Fact is if you’ve been in crypto long enough you know the saying not your keys not your crypto, nonetheless for those that intended to keep their funds safe with the hope of keeping it longterm are definitely going to have their faith broken in this space.
The narrative of crypto being a scam continues. This is possibly going to propel adoption backwards.
Sad day.
Also this is the exact reason why security is of the utmost importance, check out our video on security measures in this space🔽
@Being Invested
#wazirX $WRX #Bitcoin❗
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