Indian crypto exchange Wazirx is setting up a poll to let customers decide on reopening the platform for withdrawals, deposits, and trading. “Some options have emerged to help with the recovery which we’re exploring,” said Wazirx co-founder Nischal Shetty. “We’re actively contacting projects linked to the stolen tokens to seek their support in the recovery process,” Wazirx also revealed.
Wazirx Prepares Poll for User Input on Resuming Withdrawals and Trading
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
Wazirx Exploring Recovery Options
Wazirx, a prominent Indian cryptocurrency exchange, provided an update on Wednesday regarding the major security breach that resulted in the theft of over $230 million from its platform.
“Some options have emerged to help with the recovery which we’re exploring,” Nischal Shetty, Wazirx’s co-founder, announced on social media platform X. While noting that “recovery options need more time,” he acknowledged that users want the platform to open as soon as possible for withdrawals, deposits, and trading. Shetty continued:
We will run a poll to help our customers decide the approach to opening up the platform … Team is working on building the poll flow so everyone can participate.
The Wazirx co-founder reiterated: “INR funds are unaffected in this cyber attack. The attack was during the flow of our custody provider Liminal. Wazirx product platform and infrastructure was not breached.” However, Liminal has maintained that all Wazirx wallets created on its platform are secure and that all malicious transactions to the attacker’s addresses occurred outside the Liminal platform.
In a separate X post on Wednesday, Wazirx elaborated:
We’re actively contacting projects linked to the stolen tokens to seek their support in the recovery process. Simultaneously, we’re working on enabling withdrawals and figuring out the best way to restart deposits and trading on our platform.
In response to the security breach, Wazirx has initiated a $23 million bounty program to recover the stolen assets. On Wednesday, the exchange revealed: “The response to our Bounty Program has been strong, with 195 entries submitted so far.”
What do you think about the Wazirx security breach and the crypto exchange’s response? Let us know in the comments section below.
