Nearly a year after an alleged cyber robbery that resulted in the loss of $235 million in virtual digital assets, the Singapore High Court (HC) on 5 June dismissed the planned restructuring plan of WazirX's parent company, dealing a serious blow to cryptocurrency traders on the exchange platform.
To help users of WazirX, a compromised cryptocurrency exchange that suffered a huge $230 million (INR 1,900 crore) cyberattack last year, cryptocurrency unicorn CoinSwitch has started an INR 600 cr recovery scheme. The company hopes to assist impacted individuals in compensating for their losses, depositing money to benefit from
In addition to resuming platform operations, WazirX has announced plans to create a decentralised exchange (DEX). This action is intended to assist in compensating users who suffered losses totalling INR 2,000 crore as a result of a massive cyberattack that compromised the company's multisignature wallet. Features including
In an effort to support the company's restructuring efforts in the wake of the $234.9 million cryptocurrency theft, WazirX said on October 2 that it was in the process of establishing a Committee of Creditors (COC). According to a blog post, the committee will be made up
The country's top government agencies are now investigating cryptocurrency exchange WazirX, which experienced a big cyber theft in July that cost INR 2,000 crore, or roughly $234 million. Millions of users are still waiting for their money in digital assets to be returned. The government is reportedly
Wazirx, an Indian cryptocurrency exchange, announced on 3 September 2024 through social networking site X that Phase 2 of INR withdrawals had been released ahead of schedule. This comes after the cyberattack that occurred on July 18 and resulted in the theft of more than $230 million worth of cryptocurrencies.
The Crypto Investors Protection Fund (CIPF) has been established with an INR 50 crore allocation, according to the announcement made by the Indian cryptocurrency exchange CoinDCX. The business claims that in the exceedingly unlikely event of a security breach or other unfavorable occurrence, users will be compensated by the fund.
Hackers allegedly stole over $230 million in customer holdings, or about half of the platform's reserves, from WazirX, one of the country's main cryptocurrency enterprises. This was one of the worst hacks on an Indian exchange. This event demonstrates the difficulty in securing Bitcoin exchanges and
Collections 🗒️
Mobile cryptocurrency trading has seen a tremendous surge in India due to the increased number of beginners who started using apps before getting into real trading. The trend of trading via smartphones is going to another level with its user-friendly and seamless trading experience. Nowadays, trading apps have become quite
📄Company Profiles
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organisations. The content in this post has been approved by CoinDCX. A massive increase in the number of internet users has reactivated virtual world concepts and spawned a new market phenomenon known as cryptocurrency to
News 📰
The Enforcement Directorate has announced that it has sent a notice towards the largest cryptocurrency exchange of India, WazirX and its directors regarding a money laundering investigation. Let’s look at the information regarding the money laundering case and the amount involved. ED notice to WazirX – Latest News Names mentioned
📖 Learning
Dogecoin was created in 2013 by Jackson Palmer (Adobe Employer) $ Billy Palmer (Software Engineer). What began as a joke, is now making investors rich. It’s thrilling to see that there are people out there willing to buy Dogecoin for a higher price. That’s what keeps on driving more
🔍Insights
The crypto ecosystem has been doing news rounds ever since the RBI proposed a ban on using or trading or holding Crypto currency in 2018. It was all cloudy for the crypto investors until recently when the Supreme court in 2020 quashed the ban on trading on virtual currencies. RBI
🔍Insights
Cryptocurrency wallets are software that can be used to view cryptocurrency balances and make transactions. Digital wallets expedite the rates of cryptocurrency transactions by facilitating the sending, receiving, and storing of cryptocurrency. Most wallets these days are loaded with features that enhance the process of trading cryptocurrency. The top bitcoin