Recently, WazirX, one of the major crypto exchanges, hit the news with a cyber attack report. Over $230 million was compromised from one of the Multisig wallets on its platform. Following up on this critical breach, WazirX approached the highly professional services of Mandiant, a well-known cyber security firm and a subsidiary of Google, for […]
WazirX
WazirX’s $230M Cyberattack Response: New 55/45 Recovery Plan
WazirX, an Indian cryptocurrency exchange, has introduced a socialized loss management plan after a significant cyber breach that led to the siphoning off approximately $230 million, impacting 45% of users’ funds. This novel strategy aims to fairly address the aftermath, restore stability, and minimize disruptions for its users. In an official announcement, WazirX expressed its […]
WazirX Loses $230M In 8-Day Crypto Heist
India’s leading crypto exchange WazirX suffered a security breach in one of its multisig wallets, losing over $230 million [2000 cr INR] in the onslaught. The exchange’s team is currently investigating the incident and assured users that their funds are safe. However, INR and crypto withdrawals will be temporarily paused. Among the assets stolen are […]
Shiba Inu’s Supreme Soar as No.1 on WazirX
Shiba Inu (SHIB), a notable meme coin and Dogecoin contender, has firmly established its presence in India, despite regulatory challenges in the crypto sphere. SHIB has emerged as the leading cryptocurrency traded on WazirX, a prominent Indian exchange. The SHIB team expressed gratitude for this achievement, attributing it to the steadfast support of the SHIBArmy. […]
Shiba Inu’s Woof Dominates Indian Crypto Scene
In the world of Indian cryptocurrency investments, Shiba Inu remains the crowd-pleaser, with its bark resonating loudest on the WazirX exchange throughout the month of August. This meme-inspired coin, shared the limelight with the Ripple-associated token XRP, drawing considerable attention from investors across the nation. The exchange recently tweeted a list of the top five […]
India Regulates Crypto Transactions Under PMLA To Promote Accountability & Transparency
On March 7th, the Ministry of Finance published a notification in The Gazette of India stating that several crypto transactions would be subjected to the Prevention of Money-Laundering Act (PMLA) 2002. The move aims to regulate the crypto industry in India and requires all crypto businesses to perform necessary KYC (know your customer) and transaction […]
Binance And WazirX: The Clash Of Crypto Exchanges
According to a blog post on Friday, Binance has requested Zanmai Labs, the company running the Indian cryptocurrency exchange WazirX, to negotiate terms for withdrawing any remaining funds stored in Binance wallets.The answer purports to allay concerns about what would happen to customer funds if Binance and WazirX decided to cancel their partnership. Binance stated, […]
Indian Crypto Exchange WazirX Discloses Proof Of Reserves
India’s prominent crypto exchange WazirX has published its proof-of-reserves with 90% of user assets stored in Binance-based wallets, with the remaining 10% held in both hot and cold storage wallets. This demonstrates a reserves-to-liability ratio of greater than 1:1 and is equivalent to approximately $256.5 million and $28.5 million, respectively. According to the report, WazirX […]
WazirX: India’s ED Unfreezes Crypto Exchange’s Bank Account
WazirX brings some good news to its users. After more than a month, India’s financial crime-fighting agency announced on Monday that WazirX’s bank accounts had been unfrozen. The exchange is connected to Binance, the largest digital currency exchange in the world. The company was under investigation by the federal Enforcement Directorate (ED) last year for […]
Cryptocurrency balance freeze of Vauld: Indian saga
The cryptocurrency accounts of Bengaluru-based Yellow Tune Technologies, a provider of financial services, have been blocked, according to a Friday announcement from India’s Directorate of Enforcement (ED). Flipvolt, the Indian division of Singapore’s Vauld, held some of the accounts. The action is related to an ongoing investigation into money laundering by instant loan companies with […]