WazirX

CoinDCX, another prominent Indian cryptocurrency exchange, has informed its users that their assets are safe following WazirX’s recent cyberattack, which resulted in a large loss of user cash. 
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 CoinDCX Ensures User Funds Are Safe, Source: <a href="https://twitter.com/smtgpt/status/1828812793090576891" target="_blank" data-type="link" data-id="https://twitter.com/smtgpt/status/1828812793090576891" rel="noreferrer noopener nofollow">Twitter</a>
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Sumit Gupta, the founder of CoinDCX, has confirmed on X that all user funds on its platform are secure. The exchange holds the majority of funds in its wallets, with only a small percentage allocated to partner exchanges. 
CoinDCX’s commitment to transparency and robust risk management practices has been underscored by its proactive measures. The exchange has stated that it follows best-in-class practices for fund allocation and risk management, aiming to mitigate any potential impacts from third-party vulnerabilities. 
CoinSwitch, another major Indian crypto exchange, has announced plans <a href="https://www.cryptotimes.io/2024/08/28/all-out-war-breaks-out-as-coinswitch-drags-wazirx-to-court/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/08/28/all-out-war-breaks-out-as-coinswitch-drags-wazirx-to-court/" rel="noreferrer noopener">to pursue legal action against WazirX</a> for the recovery of Rs 80 crore in funds invested on the compromised platform.&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/08/19/coindcx-to-list-dogs-token-on-august-20-check-speculative-inr-usd-rate-here/" target="_blank" rel="noreferrer noopener">CoinDCX to list $DOGS token on August 20: Check expected price in Rupees</a> 
</blockquote>

CoinDCX Ensures User Funds Are Safe After WazirX Hack

The Crypto Times

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