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Wazirx Rolls Out Socialized Loss Strategy Across All Users Post $230M Cyberattack

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Indian cryptocurrency exchange Wazirx is implementing a socialized loss strategy to distribute the impact of the recent $230 million cyberattack among all its users. The exchange stated that 55% of users’ crypto assets will be accessible, while the remaining 45% will be converted to USDT-equivalent tokens and locked. “The fastest way to open the platform … Read more

Wazirx Claims INR Funds Unaffected by Cyberattack, Platform Secure

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Indian crypto exchange Wazirx has provided an update on the recent cyberattack resulting in the theft of over $230 million. Wazirx co-founder Nischal Shetty stated that the exchange is exploring various strategies to restore platform deposits, withdrawals, and trading. He assured users that Indian rupee (INR) funds are secure and that efforts to recover the … Read more

Wazirx: Withdrawals and Trading Paused for All Users, Over 80 Bounty Intents Received Within 24 Hours

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Indian cryptocurrency exchange Wazirx is working to resume withdrawals after a major security breach compromised a multisig wallet, resulting in the theft of over $230 million. The exchange has paused deposits, withdrawals, and trading, and launched a $23 million bounty program to recover the stolen assets. Within 24 hours, Wazirx received over 80 intents for … Read more

Wazirx Prepares Bounty Program to Recover $230 Million Stolen in Security Breach

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Wazirx co-founder Nischal Shetty has updated the public on the $230 million security breach affecting the Indian crypto exchange. The Wazirx team is preparing a bounty program, engaging with expert teams to trace the stolen funds, and collaborating with other exchanges. “This is an unprecedented attack on one of the largest crypto exchanges in India. … Read more

India Announces ‘Successful’ Crackdown on E-Nugget Scam — Seizes $10M in Crypto From Exchanges

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India’s Enforcement Directorate has declared its multi-year crackdown on the “E-Nugget” scam in Kolkata successful. The operation has resulted in cash and crypto seizures, along with the arrest of the mastermind. Investigations uncovered numerous dummy accounts and led to the freezing of digital assets at various crypto exchanges, which were then transferred to the ED’s … Read more