WazirX

<ul><li>WazirX is finalizing trade reversals after the July 18 withdrawal suspension to restore affected user balances.</li><li>The exchange collaborates with legal experts to enable withdrawals after a $230M cyberattack.</li><li>344 bounty hunters, including ethical hackers, join WazirX’s efforts to trace and recover stolen funds post-cyberattack.</li></ul><a href="https://cryptotale.org/coindcxs-6m-investor-protection-fund-post-230m-wazirx-hack/" rel="noopener noreferrer nofollow">WazirX</a>, an Indian cryptocurrency exchange, is making significant progress in its efforts to reverse all trades executed after the platform suspended withdrawals on July 18, 2024. The recovery plan, which began on August 8, was launched in response to widespread backlash against the exchange&#39;s initial proposal of a “socialized loss strategy.” This strategy would have required users to share the financial impact of a $230 million theft from the platform, leading to intense criticism from the community.The exchange has been actively working to restore balances affected by the trades that occurred between July 18 and July 21. According to the above update, WazirX is nearing the completion of this process. The plan involves undoing all trades that were carried out on the platform following the <a href="https://cryptotale.org/north-korean-hackers-suspected-in-235-million-wazirx-cryptocurrency-theft/" rel="noopener noreferrer nofollow">suspension</a> of withdrawals at 1 PM IST on July 18. This move aims to rectify the impact on users who were caught in the middle of the cyberattack and subsequent suspension of withdrawals. The reversal of trades is seen as a critical step in regaining user trust and stabilizing the platform.<a href="https://cryptotale.org/wazirx-nears-completion-of-trade-reversals-after-cyberattack/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

WazirX Nears Completion of Trade Reversals After Cyberattack

CryptoTale

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