In response to the $230 million hack on WazirX, Bharat Web3 Association (BWA) in India is intensifying efforts to bolster cybersecurity and enhance consumer protection in the crypto industry. BWA, led by Dilip Chenoy, has established two new internal groups to tackle these issues following the security breach. One group will focus on cybersecurity, involving chief information security officers from member firms to develop protocols and solutions to prevent future breaches. The second group will address consumer protection, ensuring guidelines are current and user interests are safeguarded. BWA is conducting a thorough investigation into the breach, working closely with affected parties like WazirX and Liminal. The association is also advocating for a third-party evaluation of the forensic report to ensure an unbiased review. With major industry players involved, including Coinbase and CoinDCX, BWA aims to update consumer protection guidelines and address cybersecurity challenges in light of the recent hack at WazirX. Read more AI-generated news on: https://app.chaingpt.org/news