Million

WazirX

Coin

<ul class="wp-block-list news-points">
 <li>Singapore court grants WazirX a four-month moratorium to address a $234M hack impact.&nbsp;&nbsp;</li>
 <li>The court mandates WazirX disclose wallet addresses and respond to customer queries publicly.&nbsp;&nbsp;</li>
 <li>WazirX must release financial records within six weeks under strict transparency conditions.</li>
</ul>
The High Court in Singapore granted WazirX, an Indian cryptocurrency exchange, a <a href="https://x.com/wazirxindia/status/1839235142436663643?s=61" target="_blank" rel="noopener noreferrer nofollow">four-month judicial stay</a>. This moratorium will allow WazirX to address the impact of a $234 million hack in July that affected 45% of customer funds. To prevent future market manipulation, the court imposed strict conditions, and WazirX must be open with stakeholders.
One condition requires <a href="https://coinedition.com/wazirxs-tarnished-reputation-a-230m-hack-and-a-botched-response/" rel="noopener noreferrer nofollow">WazirX</a> to disclose its wallet addresses through a court affidavit. The exchange must also answer customer questions raised during the proceedings and release its financial records within six weeks. Any future voting on the exchange’s course of action will be overseen by independent parties to ensure fairness and transparency for all stakeholders.
WazirX requested a six-month moratorium but received only four months under the above-mentioned conditions. The exchange acted quickly to secure this legal protection after th…
The post <a href="https://coinedition.com/wazirx-gets-reprieve-from-singapore-court-after-234-million-crypto-hack/" rel="noopener noreferrer nofollow">WazirX Gets Reprieve From Singapore Court After $234 Million Crypto Hack</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

WazirX Gets Reprieve From Singapore Court After $234 Million Crypto Hack

Coin Edition

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