Reeling from a multi-million dollar hack, the exchange is rolling out new recovery measures.

WazirX plans to launch and distribute recovery tokens to affected users, enabling them to recoup nearly half of their lost assets.

Following a $235 million hack in July 2024, Indian crypto exchange WazirX plans to launch a decentralized exchange in early 2025, featuring its own governance token and user-controlled assets.

WazirX plans to restart trading alongside new features, a recovery token, and a decentralized exchange to make creditors whole.

WazirX announced plans to launch a decentralized exchange (DEX) as part of a broader effort to enhance user security. The move follows a major breach in July, when hackers siphoned $235 million from the platform, sparking concerns over the security of centralized exchanges.

WazirX founder Nischal Shetty also announced the upcoming introduction of staking services to the centralized cryptocurrency exchange.

Indian Crypto Currency Exchange WazirX which was recently hacked for over $230 million, in a latest X post has revealed plans to issue a Recovery Token to settle outstanding debts with creditors. 📢 Recovery Token for Outstanding Debt SettlementWe are working towards launching a Recovery Token.

WazirX, a cryptocurrency exchange that was recently hacked for over $230 million, plans to issue a Recovery Token to settle outstanding debts with creditors. The official announcement said that the token will be airdropped in proportion to creditors on their platform balance, which will offer a tangible route for creditors to recover funds.

WazirX is launching a recovery token for creditors aimed at addressing unpaid debts and recovering assets through methods.

WazirX held its first creditor meeting on October 15 as part of its restructuring efforts after the July hack. Only four out of ten Committee of Creditor (COC) members attended, raising concerns about representation.

CoinDCX launched the world's first decentralized crypto custody feature, allowing 15 million users to maintain control over their digital assets.

Indian crypto exchange CoinDCX has launched the world's first decentralized custody solution, giving users direct control over their crypto assets. According to an Oct. 30 announcement shared with crypto.

The victims of the WazirX hack last July 2024 are now planning a class-action lawsuit. According to multiple sources, a group of victims is finalizing the plans to sue India's largest crypto exchange to recover more than $600,000 in crypto assets.

WazirX faces another hurdle amid its restructuring plan as disgruntled hack victims threaten a class-action lawsuit.

A group of victims is preparing a lawsuit against crypto exchange WazirX following the $235 million hack.

Indian crypto exchange WazirX has disclosed its proof-of-reserves (PoR) report, showing that over 40% of customer assets are stored on third-party exchanges, according to an Oct. 25 statement. The exchange said its PoR dashboard aims to promote transparency by enabling independent verification of its wallet addresses, which include the precise holdings for each asset.

WazirX responds to “ongoing disinformation campaign” allegations with a Proof of Reserves report.

Crypto exchange WazirX launched a Proof of Reserves (PoR) feature on its website as part of its pledge to transparency. As of October 24, WazirX's total assets are valued at $298.17 million.

Crypto exchange WazirX is searching for a new custodian that can offer insurance for user funds, aiming to enhance security and minimize risk.

A row has emerged between India's largest cryptocurrency exchange, WazirX, and its digital custody partner Liminal after a $235 million security breach in July. Over time, however, Liminal has fiercely denied that WazirX is accountable for the cyberattack pointing to the events in the situation as revealing the ongoing nature of the breach.

Liminal Custody has released an update addressing the allegations and misinformation surrounding the Wazirx security breach. The company clarified that while Wazirx blamed it for the incident, the exchange continued using Liminal's infrastructure to manage user funds.

Liminal has addressed the ongoing controversy surrounding WazirX's submission of 240,000 wallet addresses to the Singapore court. The 1,100-page submission has sparked debate within the cryptocurrency community.

Liminal Custody takes a firmer stance on its relationship with WazirX following the exchange's "ongoing disinformation campaign."

WazirX Hack Update: The institutional digital asset custody platform Liminal recently revealed a vital update regarding the Indian crypto exchange's $230 million July hack, sparking discussions globally. On Tuesday, the custodian cleared muddy waters regarding its role in the Indian exchange's recent decision to reveal 240K wallet addresses in the Singapore Court, a move highly

WazirX allegedly moved millions to Bybit and KuCoin, but CEO Shetty defended the actions as necessary while securing a new custodian.

According to Liminal, 75 days after the hack, WazirX still had more than $175 million in its custody despite blaming the custodian for causing the breach.

According to Liminal, 75 days after the hack, WazirX still kept more than $175 million in Liminal custody despite blaming the custodian for causing the breach.

CoinSwitch CEO Ashish Singhal has claimed WazirX transferred about $73.6m in users' crypto to global exchanges Bybit and KuCoin following its major $234m cyber attack in July.

Ashish Singhal, the co-founder of the Indian cryptocurrency exchange CoinSwitch, accused the rival platform WazirX of transferring user assets amounting to $75 million to international exchanges like Bybit and KuCoin. The accusation against Indian exchange came after the July 2024 cyber attack, when more attention was paid to its actions.

CoinSwitch has released a dashboard tracking the movement of funds from WazirX's recently disclosed wallets.

Recently, the connoisseurs of this Indian exchange accused it of siphoning off $75 million to large global exchanges such as Bybit and KuCoin ‘‘without the user's knowledge”.

Following the Rs 2000 crore hack of cryptocurrency exchange WazirX the Delhi High Court has issued notices to India's enforcement agencies Enforcement Directorate (ED) and the Financial Intelligence Unit ( FIU ).

Crypto exchange WazirX's users have raised concerns as the exchange reveals a 45% asset deficit following a cyberattack in July 2024. The company can reportedly only return up to 50% of funds, with withdrawals expected to take at least six months.

"Transparency starts with showing you everything, even if that means sharing what might seem like overwhelming data,” WazirX noted.

WazirX has selected 10 creditors to form a Committee of Creditors (CoC), but the process has raised some transparency concerns among investors on X. The identities of the members remain anonymous, as stated by the company earlier.

WazirX is being probed by multiple government agencies regarding the $235M hack and its impact on users.

Indian Government officials from the Financial Intelligence Unit (FIU), IB, and CERT-In have reportedly met with WazirX founders after the major $235 million crypto hack that took place on July 18. The meetings come as the hacked crypto exchange decided to set up a 10-member committee of creditors (CoC) by October 9.

Officials from India's Financial Intelligence Unit and other agencies are probing WazirX over a $235 million crypto hack, as the exchange investigates potential insider involvement.

The troubled Indian crypto exchange WazirX's founders reportedly faced questions from government officials who sought information on the illegal transfer of cryptos from its wallets on July 18.

Indian crypto exchange WazirX will form a Committee of Creditors (COC) by October 9. It will treat all users with crypto balances at the time of the $230 million hack as contingent unsecured creditors.

The Indian crypto exchange, WazirX is at the center of a major community backlash following the hack it suffered in July 2024. The hack resulted in the theft of approximately $230 million from one of its multisignature wallets.

A Singaporean court has granted the exchange a temporary relief to plan its restructuring.

Nischal Shetty defended the company's filing for the moratorium, describing it as a step toward a fair and binding resolution for creditors.

Just $6 million remains in the main wallet of the WazirX hackers, with most of the funds dispersed and mixed to make them harder to track.

Two major hacks on centralised exchanges dominated crypto losses in Q3 2024.

Centralized Finance platforms are under attack as Ethereum and BNB Chain remain key targets. Immunefi's Q3 2024 report revealed that hackers and fraudsters targeted the crypto market, costing the industry $412.9 million; CeFi platforms were the most affected. Source: Immunefi Among the total losses, 31 hacking-related losses totalled $409.9 million, which is 99.

Since the $230 million hack in July, WazirX has been scrambling to recover the assets and pacify users. The Indian crypto exchange had asked for a six-month moratorium to deal with the crisis.

Indian crypto exchange Wazirx has secured a four-month moratorium granted by a Singapore court, providing time for the company to address its financial obligations while crafting a resolution plan.