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.

Losses from scams and hacks in Q3 declined by 40% compared to the previous year, but CEX hacks still pose a problem for the industry.

WazirX, an Indian cryptocurrency exchange, has been granted a four-month conditional moratorium by Singapore courts. The legal protection comes 2 months after a $230 million hack that left investors unable to withdraw their funds.

A Singapore High Court has ordered the WazirX exchange to disclose its wallet addresses following the grant of a four-month moratorium. The court stipulated this as part of the conditions for the grant of the moratorium application, which paves the way for a restructuring plan to repay customers.

Meanwhile, the hacker continues to launder the stolen funds in batches of 5,000 ether ($13 million) via crypto mixer Tornado Cash.

In a significant development for India's cryptocurrency sector, Singapore's High Court has granted WazirX a four-month moratorium under specific conditions, the company confirmed to CoinDesk. WazirX, which suffered a massive $234 million hack in July, filed for a six-month moratorium, seeking time to address the fallout from the breach.

A Singapore court has granted WazirX a four-month moratorium, requiring it to disclose wallet addresses and financial accounts.

The mastermind of India's biggest crypto heist has almost fully washed the tokens stolen from the platform.

WazirX, India's biggest crypto exchange platform has received a four-month conditional moratorium from the Singapore High Court regarding the effect of the $ 234 million hack that happened on 18th July 2024. The hack that saw a loss of 45% of the exchange's customer funds has put WazirX in a very sorry state financially.

A Singapore court has granted a four-month conditional moratorium to the troubled Indian crypto exchange WazirX following a $234 million hack in July.

The hacker who skillfully hacked the WazirX server in July this year and stole $230 million equivalent in crypto is close to cleaning up the money.

A Singapore court has granted Indian cryptocurrency exchange WazirX a four month moratorium based on certain conditions on Thursday, an industry source told CoinDesk.

The hacker responsible for stealing $230 million from WazirX in July has nearly finished laundering the funds, with just $6 million worth of Ethereum (ETH) left, based on Arkham Intelligence on-chain data. Most of the stolen assets were moved through Tornado Cash, a service known for obscuring digital transactions.

India's largest cryptocurrency hack has neared completion, with over $230 million worth of stolen tokens almost fully laundered, according to blockchain data. The hack, targeting WazirX, once one of India's leading exchanges, resulted in a massive breach of funds in July.

On-chain data shows the hacker, or group of hackers, behind the massive theft is now close to completing the laundering of the stolen funds.

After the July 18 hack, WazirX suggested that Binnace Exchange might be responsible for covering the losses. The exchange claimed that it had acquired or controlled WazirX, implying it should handle the fallout.

WazirX's $235 million hack recovery efforts face hurdles as internal findings yield little to no significant breakthroughs.

Hackers who stole $235 million from Indian crypto exchange WazirX have moved around $33 million to coin mixer Tornado Cash this week.

The attacker has transferred more than 42,500 ETH ($100 million) to Tornado Cash so far, according to the on-chain analytics platform Arkham.

In a new twist of events concerning the WazirX hack, the hackers have switched $32M worth of stolen Ether (ETH) through the Tornado Cash. Since Monday, $15,000 ETH has been shifted with three tranches of 5,000 ETH transferred over the past 4 days as per the Peckshield alerts.

Binance's rebuttal comes amid growing frustration over the stolen funds.

WazirX founder Nischal Shetty claimed earlier this month that the ultimate owner of the crypto exchange was Binance - a statement the latter has denied.

The hacker behind the WazirX breach recently funnelled $11 million through Tornado Cash, as the total laundered Ethereum reaches 20,000 ETH.

The WazirX exploiter continues to move thousands of the stolen assets across new wallets, with part of the latest batch laundered through crypto mixer Tornado Cash.

Global exchange Binance has addressed the “misleading” claims made by hacked trading platform WazirX, denying any involvement with the Indian exchange and demanding “accountability” from its team after the $235 million crypto heist.

Crypto exchange Binance has responded to accusations from Wazirx and Zettai about how its dispute with Wazirx affects user funds lost in the July cyberattack. The company insists that responsibility for the incident lies with Wazirx's management under Zanmai and Zettai, not Binance.

The world's leading cryptocurrency exchange by trading volume is distancing itself from a cyberattack that recently compromised the WazirX trading platform. In a statement released today, Binance said that it has never owned, controlled, or operated WazirX and that it was not involved in the compromised wallet, contrary to speculation.

The incident underscores the critical need for robust security measures and accountability in cryptocurrency exchanges to protect user funds. The post Binance urges WazirX to compensate users after $235M hack appeared first on Crypto Briefing.

"Their attempts to shift responsibility is a disappointing deflection tactic," Binance wrote in its blog post.

In response to accusations stemming from a devastating $235 million cyber-attack on the Indian crypto exchange WazirX, Binance publicly refuted any responsibility on September 17.

Binance claims it has no ownership of WazirX and urges the exchange to take responsibility for losses following the recent hack.

Binance has denied any relationship with Indian exchange WazirX, noting that it never owned or controlled the crypto platform, which recently lost over $230 million to a hack. In a statement published on its website today, Binance denounced WazirX co-founder Nischal Shetty's claims about the Indian exchange's affiliation with Binance.

Binance has distanced itself from the ongoing struggles of the Indian crypto exchange WazirX in a Sept. 17 statement.

Binance, despite previous ties to WazirX, denies any responsibility for compensating WazirX users.

Binance accused a director of WazirX's parent company of making “misleading statements” to the contrary on Tuesday.