According to cointelegraph: Nearly a month after the $234 million hack that targeted WazirX’s Safe Multisig wallet, the Indian crypto exchange has restored investor balances. However, the delay in enabling withdrawals has left users frustrated and anxious, with no clear timeline provided for when they can access their funds.
On August 16, WazirX announced they are addressing two critical issues: resolving Indian Rupee (INR) balances and fixing problems related to cryptocurrency balances. The exchange emphasized that these solutions require ongoing legal analysis and coordination with partners.
Earlier that day, WazirX completed its scheduled maintenance, reversing all trades made after the withdrawal stoppage on July 18, the day of the hack. While users can now see their funds in their accounts, the lack of clarity on withdrawals continues to cause concern.
The July 18 hack, which compromised over 45% of investor funds, has sparked significant dissatisfaction among WazirX users. Many have taken to social media to demand immediate action, especially after the exchange's proposed 55/45 loss-sharing model faced strong opposition.
In response to the security breach, India’s Bharat Web3 Association (BWA) has reiterated its commitment to enhancing cybersecurity and consumer protection in the crypto space. Meanwhile, Binance's mobile app has returned to the Google Play Store and Apple App Store in India after a seven-month suspension.