wazirxExchangeHacked
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đźđłIn a shocking development, WazirX, one of India's leading cryptocurrency exchanges, was hacked by the notorious Lazarus Group. Known for their sophisticated cyber attacks, the North Korean hacker collective has once again demonstrated their prowess, causing significant disruption in the crypto world.
The attack resulted in substantial losses for WazirX users, with assets worth millions of dollars siphoned off. The breach was meticulously executed, leaving the platform and its security teams scrambling to respond. Despite their efforts, the stolen assets have not been recovered, and the chances of retrieving them grow slimmer by the day.
Adding to the frustration of affected users, WazirX has announced that it will not be able to issue refunds. The decision stems from the exchange's current financial constraints and the scale of the hack. This has left many users grappling with the harsh reality of losing their investments, highlighting the inherent risks associated with cryptocurrency trading.
In an attempt to mitigate the damage and bring the culprits to justice, WazirX has turned to the global community of cybersecurity experts and bounty hunters. A significant bounty has been placed for any information leading to the recovery of the stolen assets or the identification of the perpetrators. While this move showcases the exchange's commitment to resolving the issue, it remains uncertain if it will yield the desired results.
The WazirX hack has cast a shadow over the burgeoning cryptocurrency market in India. As the country grapples with regulatory uncertainty and evolving digital asset policies, this incident could prompt stricter oversight and more rigorous security measures. However, it also underscores the resilience and adaptability of the crypto community, which continues to push forward despite setbacks.For India, the path to becoming a significant player in the global cryptocurrency landscape is fraught with challenges.
#wazirX #india #wazirxExchangeHacked #fraud #cryptocurrencyExcange
@CoinCrier
The attack resulted in substantial losses for WazirX users, with assets worth millions of dollars siphoned off. The breach was meticulously executed, leaving the platform and its security teams scrambling to respond. Despite their efforts, the stolen assets have not been recovered, and the chances of retrieving them grow slimmer by the day.
Adding to the frustration of affected users, WazirX has announced that it will not be able to issue refunds. The decision stems from the exchange's current financial constraints and the scale of the hack. This has left many users grappling with the harsh reality of losing their investments, highlighting the inherent risks associated with cryptocurrency trading.
In an attempt to mitigate the damage and bring the culprits to justice, WazirX has turned to the global community of cybersecurity experts and bounty hunters. A significant bounty has been placed for any information leading to the recovery of the stolen assets or the identification of the perpetrators. While this move showcases the exchange's commitment to resolving the issue, it remains uncertain if it will yield the desired results.
The WazirX hack has cast a shadow over the burgeoning cryptocurrency market in India. As the country grapples with regulatory uncertainty and evolving digital asset policies, this incident could prompt stricter oversight and more rigorous security measures. However, it also underscores the resilience and adaptability of the crypto community, which continues to push forward despite setbacks.For India, the path to becoming a significant player in the global cryptocurrency landscape is fraught with challenges.
#wazirX #india #wazirxExchangeHacked #fraud #cryptocurrencyExcange
@CoinCrier
Binance Responds to Dispute with WazirX Parent Company Zanmai: Denies Acquisition and Responsibility
Background
On July 18, 2024, on-chain monitoring agencies detected unusual transfers from the wallet of the Indian cryptocurrency exchange WazirX. It was confirmed that the exchange had been hacked. SlowMist founder Cos stated that the breach occurred due to the compromise of a multi-signature ETH hot wallet address.Â
For more details, see the previous report here: https://www.wikibit.com/en/202407192024959118.html.
Dispute over Responsibility
WazirX and Liminal Custody, the custodians of the stolen funds, have been blaming each other for the incident. The compromised wallet was a multi-signature wallet with five signers from the WazirX team and one from Liminal, a third-party custodial service provider hired by WazirX.Â
WazirXÂ stated that the attack was related to the multi-signature wallet associated with Liminalâs digital asset custody service, citing âdiscrepancies between the data displayed on Liminalâs interface and the actual transactions.â
Liminal, on the other hand, claimed that its infrastructure had not been breached and that all wallets, including WazirXâs, remained secure. A multi-signature wallet requires multiple signatures to authorize transactions.
Binance Denies Responsibility
In a blog post, Binance stated that the Zanmai-operated WazirX platform reported a cyberattack on July 18, 2024, resulting in user fund losses of approximately $235 million, and WazirX has been unable to fulfill withdrawal requests. Binance also pointed out that Zettaiâs primary owner, Nischal Shetty, made some inaccurate statements regarding the ongoing dispute between Zettai and Binance. Shetty suggested that Binance might somehow be responsible for the losses suffered by WazirX users and creditors as a result of the cyberattack. Binance refuted these claims, stating that any such assertions are highly misleading.
Binance clarified that it never acquired WazirX, despite signing an agreement, because Zettai failed to meet its obligations, and the proposed transaction was never completed. Binance emphasized that it has never owned, controlled, or operated WazirX at any time, including before, during, or after the alleged hack.
Shetty claimed that the current dispute between Zettai and Binance might lead to Binance owning WazirX, which would, in turn, make Zettaiâs creditors Binanceâs creditors, meaning Binance would be responsible for WazirX users. In response, Binance rejected this notion, stating that it does not own or operate WazirX, is not a party to WazirXâs agreements with its users, holds no WazirX user funds, and bears no responsibility for the consequences of the cyberattack. Shettyâs statements were deemed inaccurate and misleading.
In 2019, Binance announced the acquisition of WazirX, but in 2022, Binanceâs founder denied this, stating that the deal was never completed.
#wazirX #wazirxExchangeHacked #BinanceAnnouncement
On July 18, 2024, on-chain monitoring agencies detected unusual transfers from the wallet of the Indian cryptocurrency exchange WazirX. It was confirmed that the exchange had been hacked. SlowMist founder Cos stated that the breach occurred due to the compromise of a multi-signature ETH hot wallet address.Â
For more details, see the previous report here: https://www.wikibit.com/en/202407192024959118.html.
Dispute over Responsibility
WazirX and Liminal Custody, the custodians of the stolen funds, have been blaming each other for the incident. The compromised wallet was a multi-signature wallet with five signers from the WazirX team and one from Liminal, a third-party custodial service provider hired by WazirX.Â
WazirXÂ stated that the attack was related to the multi-signature wallet associated with Liminalâs digital asset custody service, citing âdiscrepancies between the data displayed on Liminalâs interface and the actual transactions.â
Liminal, on the other hand, claimed that its infrastructure had not been breached and that all wallets, including WazirXâs, remained secure. A multi-signature wallet requires multiple signatures to authorize transactions.
Binance Denies Responsibility
In a blog post, Binance stated that the Zanmai-operated WazirX platform reported a cyberattack on July 18, 2024, resulting in user fund losses of approximately $235 million, and WazirX has been unable to fulfill withdrawal requests. Binance also pointed out that Zettaiâs primary owner, Nischal Shetty, made some inaccurate statements regarding the ongoing dispute between Zettai and Binance. Shetty suggested that Binance might somehow be responsible for the losses suffered by WazirX users and creditors as a result of the cyberattack. Binance refuted these claims, stating that any such assertions are highly misleading.
Binance clarified that it never acquired WazirX, despite signing an agreement, because Zettai failed to meet its obligations, and the proposed transaction was never completed. Binance emphasized that it has never owned, controlled, or operated WazirX at any time, including before, during, or after the alleged hack.
Shetty claimed that the current dispute between Zettai and Binance might lead to Binance owning WazirX, which would, in turn, make Zettaiâs creditors Binanceâs creditors, meaning Binance would be responsible for WazirX users. In response, Binance rejected this notion, stating that it does not own or operate WazirX, is not a party to WazirXâs agreements with its users, holds no WazirX user funds, and bears no responsibility for the consequences of the cyberattack. Shettyâs statements were deemed inaccurate and misleading.
In 2019, Binance announced the acquisition of WazirX, but in 2022, Binanceâs founder denied this, stating that the deal was never completed.
#wazirX #wazirxExchangeHacked #BinanceAnnouncement
WazirX Exchange Hacked, Over $230 Million Lost
On July 18, the Indian cryptocurrency exchange WazirX suffered a cyber attack, resulting in the theft of over $230 million in assets from their multi-signature wallets.
According to data from Lookonchain, over $230 million in assets have been suspiciously transferred from WazirX wallets to the â0x04b2â wallet, which is believed to be controlled by hackers. Subsequently, the â0x04b2â wallet began liquidating these assets, having sold 64.027 trillion PEPE tokens worth approximately $7.6 million.
Currently, a total of $234.9 million has been transferred to various new addresses. On-chain data indicates that the funds from each hacking transaction were funneled through Tornado Cash, a service known for its privacy features.
In response to this breach, WazirX has acknowledged a security vulnerability in their wallets and has temporarily halted withdrawals to safeguard their users. Following this announcement, the price of WazirXâs native token, WRX, plummeted by 7.77%, dropping to $0.16 without any clear signs of recovery.
đšMore than $230M of assets have been abnormally transferred from the #WazirX(@WazirXIndia) wallet to the walletâ0x04b2âł.Currently, wallet â0x04b2â is dumping these assets, and has dumped 640.27B $PEPE($7.6M).https://t.co/wem0wVk7OH pic.twitter.com/66Poia2qAkâ Lookonchain (@lookonchain) July 18, 2024
WazirX is one of Indiaâs leading cryptocurrency exchanges, renowned for its user-friendly interface and advanced trading features. The platform enables users to quickly and easily buy, sell, and trade cryptocurrencies. WazirX offers an online open order book system, allowing trading in more than 80 digital assets, including Bitcoin, BNB, Bitcoin Cash, Litecoin, Dash, and many others.
Despite its prominence, this security incident raises significant concerns about the exchangeâs robustness and the overall safety of digital assets on such platforms. It highlights the need for enhanced security measures and more rigorous oversight within the cryptocurrency industry. Users and stakeholders are now keenly watching how WazirX will address and rectify these vulnerabilities to restore confidence in their operations. This incident serves as a stark reminder of the ongoing risks in the rapidly evolving world of digital finance.
#CryptoMarketMoves #wazirxExchangeHacked
According to data from Lookonchain, over $230 million in assets have been suspiciously transferred from WazirX wallets to the â0x04b2â wallet, which is believed to be controlled by hackers. Subsequently, the â0x04b2â wallet began liquidating these assets, having sold 64.027 trillion PEPE tokens worth approximately $7.6 million.
Currently, a total of $234.9 million has been transferred to various new addresses. On-chain data indicates that the funds from each hacking transaction were funneled through Tornado Cash, a service known for its privacy features.
In response to this breach, WazirX has acknowledged a security vulnerability in their wallets and has temporarily halted withdrawals to safeguard their users. Following this announcement, the price of WazirXâs native token, WRX, plummeted by 7.77%, dropping to $0.16 without any clear signs of recovery.
đšMore than $230M of assets have been abnormally transferred from the #WazirX(@WazirXIndia) wallet to the walletâ0x04b2âł.Currently, wallet â0x04b2â is dumping these assets, and has dumped 640.27B $PEPE($7.6M).https://t.co/wem0wVk7OH pic.twitter.com/66Poia2qAkâ Lookonchain (@lookonchain) July 18, 2024
WazirX is one of Indiaâs leading cryptocurrency exchanges, renowned for its user-friendly interface and advanced trading features. The platform enables users to quickly and easily buy, sell, and trade cryptocurrencies. WazirX offers an online open order book system, allowing trading in more than 80 digital assets, including Bitcoin, BNB, Bitcoin Cash, Litecoin, Dash, and many others.
Despite its prominence, this security incident raises significant concerns about the exchangeâs robustness and the overall safety of digital assets on such platforms. It highlights the need for enhanced security measures and more rigorous oversight within the cryptocurrency industry. Users and stakeholders are now keenly watching how WazirX will address and rectify these vulnerabilities to restore confidence in their operations. This incident serves as a stark reminder of the ongoing risks in the rapidly evolving world of digital finance.
#CryptoMarketMoves #wazirxExchangeHacked
3 weeks completed now, and still no updates on the Proof of Reserves (POR) from #WazirXIndia . NischalShetty, as per the court ruling, #WazirXHack responsibility to disclose the remaining asset wallet details.
#wazirxExchangeHacked #TrumpDeFi #MemeCoinTrending
#wazirxExchangeHacked #TrumpDeFi #MemeCoinTrending
#wazirxExchangeHacked #WazirXIndiafraud
Nischal Shetty, co-founder and the face of WazirX exchange, is facing criticism from social media users after his another venture Shardeum announced a bug bounty scheme of Rs 2 crore
WazirX co-founderâs Side Venture Floats Rs 2 cr bounty amid fund scarcity
At a time when lakhs of WazirX exchange users are anxiously awaiting their funds back, another venture âShardeumâ, which is floated by WazirX co-founder Nischal Shetty, announced a Rs 2 crore âbug bountyâ program.
A bug bounty program is offered by companies to coders and developers where they get paid to find exploits and other security loopholes in software programs, as a step towards increased security measures.
Shardeum, a startup founded by Nischal Shetty, has come under criticism from WazirX users, who questioned the timing of this bug bounty program, when WazirX users are suffering from acute funds crisis
Nischal Shetty, co-founder and the face of WazirX exchange, is facing criticism from social media users after his another venture Shardeum announced a bug bounty scheme of Rs 2 crore
WazirX co-founderâs Side Venture Floats Rs 2 cr bounty amid fund scarcity
At a time when lakhs of WazirX exchange users are anxiously awaiting their funds back, another venture âShardeumâ, which is floated by WazirX co-founder Nischal Shetty, announced a Rs 2 crore âbug bountyâ program.
A bug bounty program is offered by companies to coders and developers where they get paid to find exploits and other security loopholes in software programs, as a step towards increased security measures.
Shardeum, a startup founded by Nischal Shetty, has come under criticism from WazirX users, who questioned the timing of this bug bounty program, when WazirX users are suffering from acute funds crisis
