WazirX plans to launch a decentralized exchange (DEX) following a $235 million hack in July. The DEX aims to enhance user security by offering full control over assets. The exchange faced backlash for freezing user balances post-hack, leading to a reversal of the decision. WazirX's move to a DEX model reflects a broader trend towards decentralized platforms amid growing security concerns. The exchange is also seeking a third-party custodian with fund insurance. India may ban private cryptocurrencies in favor of CBDCs, while fraudsters impersonate officials to scam investors. WazirX co-founder Nischal Shetty emphasizes resolution, recovery, and restructuring efforts. CryptoSlate provides comprehensive crypto news and insights, focusing on Bitcoin, DeFi, and AI. Readers are advised to conduct their own research before engaging in cryptocurrency activities. Read more AI-generated news on: https://app.chaingpt.org/news

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