#wazirX #CryptoNewss #CryptoDawar #cyberattacks #CyberSafety

BENGALURU: Crypto exchange WazirX, in a virtual conference on Monday stressed that tracking and recovering stolen crypto assets is a top priority for the exchange.
WazirX, which is pursuing a restructuring of crypto balances which will take at least six months, filed a moratorium application in Singapore Court and as part of the restructuring, aims to engage with a white knight to provide capital and pursue partnerships and collaborations.
The cyberattack on July 18 resulted in a large volume of ERC-20 tokens being stolen. About Rs 2,000 crore worth of user funds were lost.
Last month, Google subsidiary Mandiant Solutions provided a clean chit to the crypto exchange, but digital assets security firm Liminal Custody questioned the scope and methodology of the audit.
When asked about it, Nischal Shetty, WaxirX Founder and CEO told TNIE. "It's just three laptops that we used for accessing the liminal website. Our infrastructure was not impacted or involved in this process. We gave the entire laptop image and data to the forensic team, we have even provided this to the right authorities."
He added that there is nothing beyond the laptop image that exists with us since nothing else on our end was used for accessing the Liminal website except these three laptops.
George Gwee, director of restructuring at Kroll and Jason Kardachi, MD of Kroll, also addressed the conference. Kroll is the financial advisor and according to them, customers will receive returns of 55 per cent to 57 per cent of the funds. This means, 43 per cent of the money would not be able to recover.
However, Shetty added that they are in the negotiation and the ideation stage. The exchange also has an ownership dispute with Binance. While Zanmai India operates WazirX, Zettai is Singapore-incorporated, and it has applied for a moratorium.
The exchange also explained that restructuring is not insolvency, liquidation or bankruptcy. It is a plan to distribute assets to users in a pro-rata, equitable way, and in crypto (not fiat); and it allows users who need liquidity urgently to withdraw crypto more quickly and not exit the restructuring.
Since Zanmai was not affected by the cyberattack, the platform reopened INR withdrawals up to a limit of 66 per cent. The remaining INR are frozen due to ongoing disputes, and investigations by various Indian Law Enforcement Agencies and will be made available for withdrawal as and when they are unfrozen, the crypto exchange informed.

In a significant revelation, Germany's intelligence agencies have linked Russian GRU Unit 29155 to a series of cyberattacks on NATO and European Union countries. The unit, notorious for its involvement in high-profile hacking operations, has been accused of targeting websites and leaking sensitive data.
A Pattern of Aggression
Unit 29155's cyberattacks are part of a larger pattern of aggression by Russia, aimed at disrupting the political and social fabric of Western nations. The unit's tactics include website defacement, data breaches, and disinformation campaigns, all designed to sow chaos and undermine trust in institutions.
Targets and Tactics
The German intelligence report reveals that Unit 29155 has targeted various organizations, including:
- Government agencies
- Political parties
- Think tanks
- Media outlets
Their tactics involve:
- Spear phishing
- Malware attacks
- SQL injection
- Distributed Denial of Service (DDoS) attacks
Consequences and Concerns
The cyberattacks have resulted in the leakage of sensitive data, compromising national security and undermining public trust. The German government has expressed concerns about the escalating threat, warning of potential future attacks on critical infrastructure.
International Response
The revelation has sparked calls for a unified international response to counter Russian cyber aggression. NATO and EU countries are urged to strengthen their cybersecurity measures, enhance cooperation, and hold Russia accountable for its actions.
A Wake-Up Call
The German intelligence report serves as a wake-up call, highlighting the need for vigilance and cooperation in the face of growing cyber threats. As tensions between Russia and the West continue to escalate, the risk of cyberattacks will only increase, making it essential for nations to prioritize cybersecurity and defend against these malicious activities.
#CyberSafety

These days a news is very common “A hacker stole $X from a broker wallet or someone's individual broker account.” Today we will learn how we can make our assets more safer to avoid loss in any attack. Most of the times reported cases are that someone loses X number of $ on binance in a cyber/phishing attack. If you follow these 5 steps most likely you will never lose an asset in a cyber attack on Binance exchange. Now let's discuss one by one:-

1. Enable Two-Factor Authentication (2FA)
Two-Factor Authentication adds an extra layer of security beyond your password, requiring a second verification method. Binance offers multiple 2FA options:
Authentication Apps like Google Authenticator or Binance Authenticator provide secure one-time codes.Security Keys (e.g., YubiKey) ensure physical authentication.Email or SMS 2FA, convenient to an extent, but also convenient to attack by sim swapping.
Pro Tip: Avoid depending only on SMS-based 2FA; give priority to app-based or hardware-based 2FA for extra security.
2. Use Strong, Unique Passwords
A strong password is your first defense against unauthorized access. Here’s how to create one:
Use a combination of uppercase letters, lowercase letters, numbers, and symbols.Avoid reusing passwords across different platforms.Change your password periodically for extra security.
Pro Tip: Consider using a password manager to store and manage unique passwords safely.
3. Whitelist Trusted Withdrawal Addresses
Binance’s Withdrawal Address Whitelist feature ensures that your funds can only be withdrawn to specific pre-approved addresses. Any addition to this list requires email verification, providing an extra layer of protection against unauthorized withdrawals.
Steps to Enable:
Go to your Binance account settings.Look for the "Withdrawal Address Management" section.Enable the whitelist option and add trusted wallet addresses.

4. Stay Active Against Phishing Attempts
Phishing is a common way used by hackers to steal sensitive information. Here’s how to protect yourself:
Always verify the URL before logging into Binance.Avoid clicking on links in unsolicited emails or messages claiming to be from Binance.Use Binance's Anti-Phishing Code to ensure emails you receive are authentic and orignal
Pro Tip: Bookmark Binance’s official website to avoid accidentally visiting phishing sites.

5. Secure Your Internet Connection and Devices
A secure internet connection is important for safeguarding your online activities. Follow these best practices:
Avoid using public Wi-Fi for accessing your Binance account.Install reliable antivirus software and update it regularly to protect against malware.Keep your device’s operating system and browser up-to-date.
Pro Tip: If possible, use a separate device for accessing your Binance account and cryptocurrency-related activities.

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#CyberSafety #SecureYourGains