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Market News

WazirX turns to Public Poll for Recovery Options Post-Hack

The team is diligently working on the poll setup to ensure every user has a say in the recovery process.

Written By Dishita Malvania
Fact Checked by Dhara Chavda
Published July 25, 2024 3:59 PM·Updated 2 years ago
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WazirX turns to Public Poll for Recovery Options Post-Hack

WazirX, one of India’s leading cryptocurrency exchanges, is engaging its community through a public poll to determine the best recovery options. The CEO of WazirX announced on Twitter that the poll’s implementation is underway, and will launch within the next couple of days.

The exchange is currently consulting with legal experts to set the appropriate duration for the poll and to decide when they can safely reopen the platform, should the results be favorable.

Nischal Shardeum's post
Image Source: Nischal Shetty

The exchange has also provided preliminary details on the recovery efforts. While the recovery options require additional time, WazirX acknowledges the community’s urgency in resuming platform operations for withdrawals, deposits, and trading. The team is diligently working on the poll setup to ensure every user has a say in the recovery process.

Importantly, INR funds remain unaffected by the attack, which occurred during a transaction flow through the custody provider Liminal. WazirX’s core platform and infrastructure were not compromised.

The CEO Nischal Shetty, assured users that the team is committed to resolving the issue and appreciates their patience as they navigate this challenging situation together. 

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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