2024

WazirX

Coin

<ul class="wp-block-list news-points">
 <li>WazirX delays resolving the $230M hack, with customers’ funds still frozen.</li>
 <li>Mystery of Crypto criticizes WazirX for blame-shifting and poor communication.</li>
 <li>WazirX’s “socialized losses” program offers 55% fund access, sparking user backlash.</li>
</ul>
Pseudonymous crypto trader Mystery of Crypto has blasted WazirX’s response to the security breach that cost over $230 million in digital assets. The trader said that, unlike other exchanges that acted quickly after being hacked, WazirX has dragged its feet on fixing the problem and instead opted to shift the blame.
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 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> WazirX Still Dodging Responsibility! While other exchanges acted fast after hacks, <a href="https://twitter.com/hashtag/WazirX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#WazirX</a> continues to play the blame game: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Binance (2022) – $570M hack, fully compensated users within days. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;"> KuCoin (2020) – $280M hack, reimbursed users swiftly. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f538.png" alt="🔸" class="wp-smiley" style="height: 1em; max-height: 1em;"> BingX (2024) -… <a href="https://t.co/CnuPg5iYeD" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/CnuPg5iYeD</a>— Mystery of Crypto (@Mysteryofcrypt) <a href="https://twitter.com/Mysteryofcrypt/status/1838220549509542034?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 23, 2024</a>
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The trader pointed out how Binance, KuCoin, and BingX quickly compensated users after hacks. Binance, for example, reimbursed users within days after a $570 million breach in 2022. KuCoin did the same after its $280 million hack in 2020, and BingX allowed withdrawals…
The post <a href="https://coinedition.com/wazirxs-tarnished-reputation-a-230m-hack-and-a-botched-response/" rel="noopener noreferrer nofollow">WazirX’s Tarnished Reputation: A $230M Hack and a Botched Response</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

WazirX’s Tarnished Reputation: A $230M Hack and a Botched Response

Coin Edition

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