WazirX Plans Poll to Decide on Resuming Withdrawals and Trading

Indian crypto exchange WazirX is planning to set up a poll to let customers vote on whether to reopen the platform for withdrawals, deposits, and trading. Co-founder Nischal Shetty mentioned that they are exploring various options to aid in the recovery.

Additionally, WazirX is reaching out to projects related to the stolen tokens to get their support in recovering the funds.

Wazirx Updates on Security Breach and User Poll for Platform Reopening

Wazirx, a major Indian cryptocurrency exchange, recently addressed the significant security breach that resulted in the theft of over $230 million from its platform. Co-founder Nischal Shetty shared an update on social media, revealing that the company is exploring several options to aid in the recovery process. Despite the ongoing efforts, Shetty acknowledged that users are eager for the platform to resume normal operations, including withdrawals, deposits, and trading.

To gauge user preferences on how to proceed, Wazirx will conduct a poll, allowing customers to participate in deciding the best approach for reopening the platform. Shetty emphasized that while INR funds remain unaffected by the breach, the attack occurred through their custody provider, Liminal. Liminal has assured that all Wazirx wallets on its platform are secure and that the malicious transactions happened outside of its system.

Wazirx Updates on Recovery Efforts and Bounty Program

In a recent update on X, Wazirx detailed its ongoing efforts to address the major security breach that led to the theft of over $230 million. The exchange is actively reaching out to projects associated with the stolen tokens to seek their assistance in the recovery process. At the same time, Wazirx is working on enabling withdrawals and determining the best way to resume deposits and trading on the platform.

Additionally, Wazirx has launched a $23 million bounty program aimed at recovering the stolen assets. The exchange reported a strong response to the program, with 195 entries submitted so far.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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