WazirX Announces Restoration of Account Balances Post $235 Million Security Breach

Thursday, 8 August 2024, 11:04
WazirX has announced plans to reverse all trades executed after it implemented a withdrawal freeze on July 18, following a devastating hack that resulted in a loss of $235 million. This move aims to restore user confidence and rectify the impact of this security breach. The exchange's commitment to this restoration highlights its dedication to customer security and trust. The conclusion emphasizes the importance of robust security measures in the cryptocurrency industry.
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WazirX Announces Restoration of Account Balances Post $235 Million Security Breach

WazirX Account Restoration Plan

WazirX plans to undo all trades that occurred following its withdrawal freeze on July 18, which was caused by a $235-million hack.

Details of the Hack

  • WazirX suffered a significant breach affecting user funds.
  • The exchange aims to restore confidence by reversing impacted transactions.

Conclusion

This initiative showcases WazirX's commitment to security and rebuilding trust among users in the volatile cryptocurrency market.

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.

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