Indian crypto exchange Wazirx has informed users that it is focusing on resolving issues related to INR and crypto balances. The exchange emphasized that both solutions require ongoing legal analysis and urged users not to panic. Wazirx acknowledged users’ frustration but cautioned that drastic actions could cause further delays.
Wazirx: Crypto and INR Balance Solutions Top Priority, Urges Users Not to Panic
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Wazirx’s Update on Top Priority Post Cyberattack
Wazirx, a prominent cryptocurrency exchange in India, provided an update on its efforts to reopen the platform after the recent security breach on Friday through social media platform X. The breach resulted in the theft of over $230 million from one of its multisig wallets.
“On top priority, we’re working on two aspects: 1. Solution for INR balances 2. Solution for crypto balances,” Wazirx stated, emphasizing:
Both these solutions need legal analysis which is ongoing. At the same time we’re also waiting on some positive confirmations from the various partners who can help solve these issues.
Wazirx urged its users to remain calm and patient while the team works to address these challenges. They cautioned that rushing into drastic actions could lead to further delays and assured customers that they are working diligently to bring clarity as soon as possible. The company acknowledged users’ frustrations and requested more time to develop the best solutions.
“Please don’t panic, we will get back on these as soon as we can. We understand the anger around the situation and the desire to take drastic actions, but these things will further lead to delays. Hence requesting your patience while we work on bringing clarity as soon as we can,” the exchange said.
Earlier this week, Wazirx announced it is nearing the completion of reversing trades made between July 18 and July 21, following a halt in withdrawals. The company also reported receiving 344 bounty entries in its efforts to address the security breach and recover funds.
However, Wazirx users are growing more concerned about how the platform is managing the aftermath of the cyberattack, particularly the slow response in enabling withdrawals. Alarmed by the possible threat to their funds, a significant number of users are pressing for immediate access to their assets, demanding the swift recovery of their money.
How do you feel about the Wazirx security breach and the crypto platform’s response? Let us know in the comments section below.
