Reportedly, a very big crypto exchange is ready to assist WazirX in compensating the victims of the WazirX hack incident.
WazirX, a popular Indian crypto exchange, faced a significant hack incident 1.5 months ago, resulting in the loss of a major amount of funds. Today, we published a report about the backend story of WazirX’s hack incident.
https://t.co/HmfBxF7Bbw
WazirX Hack Backend Full Story In Public Domain: Unveiling the Events Leading to a Possible Insider Job— Bitcoinik (@Bitcoinikdotcom) September 12, 2024
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In the last couple of days, some media reports confirmed that WazirX leadership is currently in discussions with a top crypto exchange to raise funds to compensate users and restructure the platform. However, the name of this crypto exchange is currently unknown, though there is some significant possibility that aid may come from that exchange.
On the other hand, some crypto enthusiasts claimed that there’s a very slim chance that this discussion will yield positive results for WazirX customers, as the compensation fund required is large, and the platform’s reputation has been severely damaged. Therefore, the chances of a positive outcome in the deal are very low.
Another recent report claimed that the WazirX leadership is seeking regulatory approval for their Moratorium application in a Singapore court, with the support of fewer than 500 WazirX customers, which event represents less than 0.01% of the WazirX customer base.
In light of the whole situation, many Indian crypto influencers claimed that the current leadership of Binance, a crypto exchange, is not doing enough. They believe Binance should intervene to help WazirX customers.
A crypto X user said that the current Binance CEO, Richard Teng, is not addressing the WazirX issue because he doesn’t prioritise customers, unlike the former Binance CEO, Changpeng Zhao (CZ), who always prioritised customers, which helped Binance become a top platform. Some affidavits suggest that Binance is still the current owner of WazirX.
Read also: WazirX Hack Full Story In Public Domain: Unveiling the Events Leading to a Possible Insider Job
Relief for WazirX Users: Major Crypto Exchange Steps In to Help Recover from Recent Hack
https://bitcoinik.com/relief-for-wazirx-users-major-crypto-exchange-steps-in-to-help-recover-from-recent-hack/feed/
https://bitcoinik.com/relief-for-wazirx-users-major-crypto-exchange-steps-in-to-help-recover-from-recent-hack/feed/
