Crypto Exchange WazirX's Cybersecurity Situation Explained
Monday, 9 September 2024, 11:27
WazirX's Cybersecurity Overview
bWazirX's security partner has clarified that the alleged cyberattack in July was not an external breach. The partner specified that the incident stemmed from WazirX's internal system, leading to the substantial loss of assets.
Understanding the Incident
- In July, WazirX reportedly faced a major security scare.
- Approximately Rs 2,000 crore worth of digital assets were compromised.
- Investors and users expressed concern regarding platform security.
Importance of Cybersecurity
Security in cryptocurrency exchanges is crucial. With rising incidents globally, exchanges must reinforce security measures. This situation prompts WazirX and other platforms to evaluate their strategies continuously.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.