Following the $230 million hack, WazirX plans to restore all user portfolio balances to their July 18, 2024, status.
The hack exposed vulnerabilities in WazirX’s multisig wallet, shaking confidence in the platform.The Indian cryptocurrency exchange plans to restore account balances and reverse all trades executed after the platform halted withdrawals on the 18th of July.“All users will have their portfolio balances on the WazirX platform restored to what they were on July 18, 2024.
“Good step by WazirX. But please do return the full fund to the users without affecting other users.”The breach involved a multisignature wallet and exposed vulnerabilities in WazirX’s coordination with its custody provider, Liminal.This incident exposed the risks of storing large digital assets on exchanges and raised concerns about user fund security.
That being said, WazirX is actively working to restore balances and reverse trades to rebuild trust and restore confidence in the platform.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Support Beyond Launch: CLS’ strategies for crypto growth and market-making on CEXsCLS Global has partnered with more than 70 reputable CEXs worldwide for listings and liquidity provision for projects.
Read more »
XRP whales move 157M tokens from exchangesIn the last 24 hours, whales and investors have transferred a significant 157 million XRP tokens worth $75.05 million from CEXs.
Read more »
Bitcoin slides below $66k: Here’s what whales are up toCrypto whales accumulated 5,900 BTC worth $397 million from CEXs including Binance and Bitfinex amid the price drop.
Read more »
Five homes unsafe following Vancouver fires, crane collapse: fire departmentVANCOUVER — Vancouver Fire Rescue Services say five homes are unsafe to occupy after a massive fire and crane collapse in the city's Dunbar neighbourhood.
Read more »
Five homes unsafe following Vancouver fires, crane collapse: fire departmentVANCOUVER — Vancouver Fire Rescue Services say five homes are unsafe to occupy after a massive fire and crane collapse in the city's Dunbar neighbourhood.
Read more »
Five homes unsafe following Vancouver fires, crane collapse: fire departmentVANCOUVER — Vancouver Fire Rescue Services say five homes are unsafe to occupy after a massive fire and crane collapse in the city's Dunbar neighbourhood.
Read more »