India's cryptocurrency exchange WazirX announced on Wednesday that it has canceled all outstanding open orders on its platform. This move is part of the exchange's "ongoing efforts" to address issues related to Indian rupee (INR) and cryptocurrency balances.

According to a post on X (formerly Twitter), WazirX stated that any INR and crypto assets locked in these open orders would be credited back to users' respective balances.

This announcement follows a significant security breach in July, during which the exchange suffered a $230 million hack. The hackers managed to steal $102 million worth of Shibu Inu tokens, $52 million in Ethereum, and $11.2 million in Polygon's native token, Matic. Other tokens, including Pepe, USDT, and Gala’s native token, were also lost in the theft.

The hack was attributed to a cyber attack on one of WazirX's multi-signature wallets, which utilized the services of the digital asset custody and wallet infrastructure provider, Liminal.

It remains unclear whether the recent cancellation of open orders is directly related to the July hack. WazirX confirmed to Decrypt that they are still working to resolve the issue but did not comment on whether the two incidents are connected.

Despite these challenges, WazirX continues to market itself as one of India's largest and fastest-growing cryptocurrency exchanges, with claims of being the country's "most trusted Bitcoin and cryptocurrency exchange," as stated on its website.

However, the exchange's native token, WazirX (WRX), has seen a steep decline of 97% from its all-time high of $5.88 in April 2021, according to data from CoinGecko. Following Wednesday's developments, the token is trading 1.2% higher, although it had experienced a significant drop of 25% on July 19, shortly after the hack, falling from $0.16 to around $0.12.

#wazirX #cryptoexchange #Crypto_Jobs🎯 #BinanceLaunchpoolDOGS #BinanceHODLerBANANA

#Indian exchange #wazirX cancels all open orders and refunds users amid $234M hack recovery efforts. #WRX

🛡 The leading cybersecurity company Mandiant, which is part of Google Cloud, has confirmed that none of the three laptops used by the WazirX team for transactions were compromised in the cyberattack during which crypto assets worth $230 million were stolen.
#Binancepen_spark
#wazirX

Forensic Report: WazirX Laptops Safe, But Multisig Wallet Breach Raises Serious Questions! 🤔

WazirX confirms that its systems and laptops were not compromised in the $230 million hack, according to a third-party forensic report by Mandiant Solutions, a Google subsidiary. The investigation focused on the multisig wallet where the breach occurred.

Multisig wallets require multiple private keys to unlock and move funds, providing an extra layer of security. In this case, WazirX's hacked wallet required six signatories—five from WazirX and one from infrastructure partner Liminal.

Despite the sophisticated setup, WazirX lost nearly 45% of its holding assets in the attack. However, the forensic report from Mandiant found no evidence of compromise on the laptops used to sign transactions, suggesting the issue might not be with WazirX’s internal systems.

WazirX has placed the blame on Liminal, its infrastructure and custody partner, hinting that the breach might have originated from their side. Meanwhile, Liminal strongly denies this, stating that their front-end and UI were not compromised, as per their own audits.

Liminal’s spokesperson raised concerns about WazirX's network security, given that WazirX held 5 of the 6 keys required for transaction approval. They are confident in their systems and plan to release detailed forensic reports soon.

What’s Next for WazirX? The exchange is exploring recovery options, including a Bounty Program offering up to $10,000 in USDT. They're also in discussions with industry peers for support or a potential buyout.

This incident underscores the importance of robust security measures in the crypto space. With millions at stake, exchanges must prioritize the protection of user assets and maintain transparency during crises.

That’s it for now. Keep an eye out for further updates as the story develops. Stay informed and stay secure!

#PowellAtJacksonHole #CryptoMarketMoves #LowestCPI2021 #MarketDownturn #wazirX

#Binance is back in India 🇮🇳 and ready to roll! 🎉

No more #WazirX drama! Binance has officially registered with the Indian government, paving the way for full operations in the country. 🌞💪 This means Indian users can now fully access Binance's website and app, giving them a wider range of crypto services. 🚂🤝

A big win for both Binance and Indian crypto enthusiasts! Let's see what this means for the future of crypto in India. 🔥🇮🇳 DYOR! #india_crypto #wazirX $BNB

WazirX Hack Update:

Exchange Moves Assets To New MultiSig, Withdrawals Next?WazirX hack update: The Indian crypto exchange revealed that it is migrating its remaining assets from a custodian to new multisig wallets.

WazirX ends ties with a crypto custodian in the aftermath of the exploitation attack.
Simultaneously, the Indian exchange starts migrating remaining assets to new multisig wallets.
WRX coin's recent performance fuels investor speculations

#wazirX
#HackerAlert
#updates

₹1900 Crores Lost in #WazirXHack : Media Silence Raises Questions

Day 27th
When a hack involving ₹10 lakhs occurs, TV news channels cover it extensively throughout the day. Yet, when the Indian crypto community suffers a massive hack of approximately ₹1900 crores ($230 million), there's hardly any coverage.

Why is this being ignored?
Does it not matter to you because the funds hacked were from @WazirX: India Ka Bitcoin Exchange users?

When #Bitcoin drops from $69,000 to $16,000, it's all over the news. But why isn't this $230 million (₹1900 crores) hack being reported?

Have you also received money from WazirX to stay silent?

If you believe in transparency, cover this news and help those who lost their funds get justice.

Thank you.

#wazirX #WazirXIndia #WazirXHack #CryptoMarketMoves

Ater incident of India's Main crypto exchange #wazirX in which all investors have affected. How should our trust prevails on Crypto ganges Exchanges that our hard earned money is in safe hands. Comment

#WazirX situation is a DISASTER

26 days since the hack, ZERO communication

Users can't access their funds 🚫

This is why we say:
NOT YOUR KEYS, NOT YOUR COINS

Indian exchanges taking MASSIVE Ls on trust

Where's the transparency @WazirX: India Ka Bitcoin Exchange ?
When can people get their money?

This is exactly why #crypto needs proper regulation

Protect users or get REKT

Always DYOR and use reputable exchanges

#wazirX #WazirXIndia #WazirXHack #BinanceLaunchpoolTON #CryptoMarketMoves

It's been almost a month now since the BIGGEST CRYPTO HACK in 🇮🇳India's #Web3 history !

Many 🇮🇳users are now suspecting whether the #wazirX Hack was an insider job or a SCAM⚠️

What do you think?🤔

HACK 👍

SCAM 👎

#wazirX #WazirXIndia #CryptoMarketMoves #WBTCUnderScrutiny

Wazirx Hack Update :

👋 tribe! Here's an update on what we're actively working on:

» We are nearing the completion of restoring the balances for trades that happened between 18 and 21 July. This will undo all trades carried out on the WazirX platform following the stoppage of withdrawals on 18 July 2024, at 1 PM IST.

» We're working with legal experts to help us formulate an effective method for enabling withdrawals.

» For our Bounty Program, we've received entries from 344 bounty hunters, including security professionals and ethical hackers, who are actively pursuing the trail of the stolen funds.

» We are in touch with multiple partners to explore all possible solutions to mitigate the financial impact of the cyberattack. Currently, we are in discussions with seven partners and making steady progress.

Thank you for your continued patience and support 🙏

This Is Official Message From Wazirx Team.

#WazirXHack #WazirXIndia #WazirXHacked #wazirX #wazirX

It's been 26 days since the #WazirX hack.

→The platform is still not opened for trading or withdrawal.
→No details are provided about the remaining 55% tokens and INR.
→No information is provided if they were able to track the hacked amount or not.

Victims are taking loans to bear the emergency expenses. Users are missing the trading opportunities.

I urge @WazirX: India Ka Bitcoin Exchange to open the platform ASAP and let people use their funds. Please provide more transparency about the hack because people are tired of the excuses.

#wazirX #WazirXHack #CryptoMarketMoves #MarketDownturn #SahmRule

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

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 Founder Nischal Shetty and ex-Zebpay CEO Avinash Shekhar launch crypto futures exchange “Pi42”

◾️Pi42, a crypto-INR perpetual futures exchange that will offer derivatives trading to Indian investors in Indian rupees.

◾️Pi42 is currently offering five tokens including Bitcoin, Ether, Solana, MATIC and XRP.

#TrendingTopic #DYM #wazirX #PYTH #sol

#indiaceyptotax has not introduced any changes to its controversial tax deducted at source (TDS) policy that is affecting the crypto industry.

The nation's finance minister #Nirmala Sitharaman revealed the budget in parliament on Thursday as usual. Expectations were low for a change in the stiff taxes on crypto transactions, which include a 30% tax on profits and a 1% TDS on all transactions. However, there was a glimmer of hope because of efforts from the domestic crypto industry and a study from a think tank pushed hard for a reduction in the #TDS.

In general, this budget had lower expectations in terms of the financial sector as India is headed for general elections in the next two months. Sitharaman announced no changes in taxation - both direct and indirect.

In the election year, the finance ministry doesn't usually present a full budget but an interim one to fund its expenses for a short time. A full budget is usually expected in July after the results. Prime Minister and his Bharatiya Janta Party are expected to return to power, according to polls.

India's crypto industry has urged the government to reduce the 1% TDS to 0.01% ever since it was first announced two years ago. Indian crypto exchanges have been in survival mode, trying to extend their runways in response to the 1% TDS.

“Digital public infrastructure and the PM’s aspiration for [innovation] will benefit from integrating provisions for long-term financing of domestic crypto projects given how India is at a pivotal phase in the crypto revolution,” said Rajagopal Menon, vice president of cryptocurrency exchange #wazirX .

WazirX founder @NischalShetty and former Zebpay CEO @avinash_shekhar launched their new venture @Pi42Exchange.

It's a crypto-INR futures exchange that will help users invest in the crypto tokens without worrying about paying tax deducted at source (TDS).

Congratulations 🎉👏

#Write2Earn #TrendingTopic #TradeNTell #CryptoLegend #wazirX $BTC $ETH $BNB

WazirX will be shutting down its system for 30 minutes on
28th May 2024 from 12:30 AM to 1 AM IST, to perform an upgrade. During this period, many services will be unavailable.

#wazirX #btc70k #EarnFreeCrypto2024 #MicroStrategy #buythedip