-
Wazix founder Nischal Shetty said the operations of the exchange could resume within 10 business days once the Singapore Court sanctions the scheme.
-
The application filed on December 6 outlined a structured roadmap for recovery, and if approved, will include initial distributions of available liquid assets within 10 Business Days (as defined in the proposed Scheme).
-
Nischal Shetty, founder and CEO of WazirX said he is expecting to restart the exchange platform by February 2025.
-
WazirX said the committee, which will have 10 users affected by the July cyberattack as its members, is aimed at giving a fair representation to such customers in the business restructuring process
-
The moratorium, which comes with some conditions, will allow WazirX to help it restructure its business after the $230-million hack
-
Never owned, controlled or operated WazirX during or after hack: Binance said in a statement
-
WazirX’s users are unlikely to get full recovery of their crypto portfolio immediately after restructuring. The exchange is also exploring additional options to return more funds to the users.
-
“Three NDAs have been signed to date with prominent cryptocurrency exchanges with user bases in the range of 12 – 100 million users and between around $5 million and approximately $1.5 billion in daily trade volume,” CEO Nischal Shetty said.
-
CoinSwitch said it cumulatively held Rs 12.4 crore in INR, Rs 28.7 crore in ERC20 tokens, and Rs 39.9 crore in other tokens on WazirX.
-
Earlier in an interview with Moneycontrol, founder and CEO Nischal Shetty had said that the multisig wallet that got hacked on July 18 required four people to sign in to unlock – including three from WazirX’s end and one from Liminal’s end.
-
WazirX told Moneycontrol that it will be responding to the petition and “strongly denied” any allegations of fraud.
-
“I think the case that happened in WazirX was very unfortunate. People don't like to keep 50 percent (in one wallet) because you don't put all the eggs in one basket,” CoinDCX CEO Sumit Gupta told Moneycontrol.
-
WazirX is currently in the midst of finding a solution to bail out customers and restart its operations, as the exchange has temporarily paused withdrawals and trading on its platform.
-
Last week in an interview with Moneycontrol, WazirX’s founder and CEO Nischal Shetty had shared that he is in talks with most major global exchanges for support and to look for a potential buyer.
-
The crypto industry body has said it will also review and update its existing consumer code in the wake of the cyberattack
-
Following the $230-million security breach in one of its multisig wallets and losing 45% of its holding assets, WazirX’s founder and CEO Shetty is in talks with global peers for support or finding a potential buyer.
-
As of July 18, Binance held WRX tokens worth around $80 million
-
The exchange has given two options to the customers to pick from for further plan of action. They will be able to vote for the same till August 3.
-
Pi42 is currently offering five tokens including Bitcoin, Ether, Solana, MATIC and XRP. Retail investors will be able to access crypto market with a leverage of up to 20x and no expiry dates.
-
The capital will be used to build larger communities and projects on the layer 1 blockchain network before its opens for and public use alter in the year, the startup has said
-
Shetty clarified that there had been “some confusion” around listing NFTs from the WazirX marketplace on other platforms like OpenSea, but that has been resolved.
-
Shetty, co-founder of WazirX and L1 blockchain Shardeum discussed the final release of the new blockchain network, crypto regulations, Binance dispute, hiring and fund-raising plans and his journey as a serial entrepreneur, in an interview with Moneycontrol.
-
Shardeum’s engineering team has built an internal ChatGPT plugin to review their codes.
-
According to a March 7 gazette notification, Indian crypto exchanges will now be required to report any suspicious activity to the Financial Intelligence Unit-India (FIU-IND).
-
In its latest blog, Binance said, “It is in the interests of Binance and the public that Zanmai is not permitted to perpetuate false narratives on the basis of their use of Binance’s wallet services. We view such false claims as an attempt to shift the responsibility over WazirX’s operations to Binance.”
