Indian cryptocurrency exchange WazirX has once again made headlines with a significant move in its ongoing recovery process. On July 18, the exchange canceled all open orders and returned any Indian Rupees (INR) and crypto assets reserved for these trades back to users’ balances.
The announcement, made on the social media platform X, came as part of WazirX’s “ongoing efforts to resolve the issue surrounding INR and crypto balances on the platform.” This latest development follows the exchange’s decision to halt all trading last month after a devastating $230 million exploit.
The July 18 attack, believed to be perpetrated by the notorious North Korean hacking group Lazarus Group, left the exchange reeling. In response, WazirX proposed a recovery program that faced intense criticism from the crypto community. Despite the challenges, the exchange has been working tirelessly to address the fallout from the incident.
Earlier this month, WazirX announced plans to undo all trades that occurred after the withdrawal freeze it implemented in response to the attack. The exchange emphasized that this decision was made to protect the integrity of its platform and ensure a fair outcome for users affected by the cyberattack.
Also Read: WazirX Hack: $150M Laundered In Ether After $235M Exploit
In a recent development, Google subsidiary Mandiant reportedly confirmed that WazirX laptops were not compromised during the attack. This finding provides some clarity and potentially narrows down the scope of the breach.
As WazirX continues its recovery efforts, the crypto community remains closely watching the exchange’s progress. The outcome of these efforts will have significant implications for the future of the Indian cryptocurrency market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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