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The suspect reportedly opened an account under a fake name and sold it to an accomplice, who then allegedly used it to hack the exchange.

Delhi police arrested a West Bengal resident in connection with a hacker attack that drained $235 million worth of crypto from WazirX.

Investigators said they faced challenges obtaining critical data from Liminal Custody, the company securing the exchange's cold wallets.

Indian authorities make first arrest linked to $235 million WazirX hack.

Delhi Police have made progress in investigating the $235 million breach of crypto exchange WazirX by arresting SK Masud Alam from Bengal. On Nov. 13, local media outlet IndiaToday reported that Alam allegedly set up a fake account on WazirX under the alias “Souvik Mondal.

The Indian authority made a huge breakthrough in what can be said the “biggest crypto heist in the country.” Delhi Police arrested an individual named “SK Masud” in connection with the cyberattack on WazirX.

Delhi Police has arrested a West Bengal resident in connection with the $230 million WazirX hack. The suspect allegedly created a fake account and sold it on Telegram to a buyer, who reportedly used it to exploit the exchange security.

Delhi Police have made a breakthrough in the $235 million WazirX hack case, arresting a key suspect in West Bengal.

Delhi Police made a breakthrough in the WazirX hacking case, arresting a key suspect in West Bengal.

Indian police arrested a suspect linked to the $234m WazirX cyberattack for allegedly creating and selling a fake account used to breach the exchange. The post Indian Police Arrest Suspect in Connection with WazirX's $234M Hack appeared first on Cryptonews.

It is another blow for the Indian cryptocurrency exchange WazirX, with the Delhi Police arresting West Bengal-based SK Masud Alam who is thought to have been engaged in a serious hack according to indian news channel India Today.

Indian Police have arrested SK Masud Alam, a resident of West Bengal, for his alleged role in the WazirX hack. Earlier this year, the hack resulted in over $230 million in cryptocurrency losses, as customers were unable to withdraw their funds.

Bitcoin bull run is now underway, with prices soaring to a new all-time high of over $81,800. However, WazirX users are left out of this rally due to the exchange's restructuring.

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.