Who stole WazirX’s crypto?

On 18 July 2024, WazirX faced a very critical cyber attack on one of the wallets, which was in digital asset custody and wallet infrastructure and multi-wallets in number. Digital assets of more than $230 million were stolen, thus disrupting our ability to maintain 1:1 collateralization with the assets.Following this unhappy event, Wazir has taken the following immediate steps in totality:Complaint with the police station through the National Cyber Crime Reporting Portal and initiate a physical complaint. The incident has also been reported to the Financial Intelligence Unit, India, and CERT-In.Exchanges Notification: Proactively contacted more than 500 exchanges to block identified addresses. Many exchanges have been very cooperative, helping in the recovery to the best of their ability.Audit Procedures: Wazir is coordinating with cybersecurity experts who stole WazirX’s  crypto, line-by-line review of the incident and the consequent restoration operations. Preliminary findings are available for your review.Bounty Program: They have provided a bounty program to ensure speed in recovering the assets, with up to $10,000 in USDT for leading actionable intelligence that would result in frozen and recovered funds. A full 10%, amounting to $23 million, was set aside for the White Hat Bounty.Temporary Measures: INR and Cryptocurrency Deposits/Withdrawals is temporarily disallowed; Trading Activities were Halted for the Safety of Assets.Further course of action: The forensic analysis runs on the platform continuously; experts are consulted to estimate the whole impact of the incident. It shall assess and strategize the recovery efforts at the very earliest. Efforts would be made to enable the withdrawal of funds. This time-consuming process includes forensic analysis and security audits.

Buy cryptocurrency

Source link

Refer And Earn Demat Account – Get ₹300 | Referral Program

Open Demat Account In Angel One For FREE