WazirX to Phase In Indian Rupee Withdrawals: Key Updates and Insights

Friday, 23 August 2024, 15:07

WazirX users can expect to withdraw up to 66% of their rupee funds starting August 26, following a recent suspension due to a $230 million hack. This phased approach aims to restore user confidence and operational stability. Stay informed for further developments on this situation.
CoinDesk
WazirX to Phase In Indian Rupee Withdrawals: Key Updates and Insights

WazirX Withdrawals Resumed: What You Should Know

In a significant move for users of the Indian crypto exchange WazirX, the platform will begin phasing in the withdrawal of Indian Rupees (INR) starting August 26. This comes after the suspension of withdrawals triggered by a $230 million dollar hack last month. Users will be allowed to take out up to 66% of their funds in two distinct phases.

Details of the Withdrawal Phase

  • Phase 1 will initiate on August 26, enabling users to withdraw a significant portion of their funds.
  • Phase 2 will follow once the platform ensures complete operational stability.

This strategy is part of WazirX’s effort to reassure its users and promote transparency following a turbulent period. Keep an eye on updates as WazirX works toward enhancing its withdrawal processes.


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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