Nischal Shetty announced the recovery of $3 million worth of cryptocurrencies out of $235 million, which were stolen by North Korean hackers in 2024.
WazirX was a popular crypto exchange among Indian crypto traders. In mid-2024, this exchange was hacked by some unknown hackers; later, evidence was found that hackers were affiliated with the North Korean hacking group Lazarus. In that incident, the exchange lost nearly $235 million, representing approximately 45% of the customers’ funds. Till that day, the services of this exchange have been suspended and the leadership of this exchange has been working to get regulatory approval to restart the services.
On 17 Jan 2024, Nischal Shetty, CEO of the WazirX crypto exchange, informed the WazirX customers that the WazirX team succeeded in recovering $3 million worth of cryptocurrencies.
Nischal said that this is just the beginning & the team has been engaged in this matter to recover more funds.
This is just the beginning.
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We are fully committed to recovering the stolen funds, leaving no stone unturned to maximise recoveries under a scheme #WazirXRecovers https://t.co/Ugnos36jjT
— Nischal (Shardeum) (@NischalShetty) January 17, 2025
The majority of the Crypto influencers praised the WazirX team for this good job and also wished for a better outcome in the future.
A crypto X account dedicated to uniting the WazirX customers against the WazirX cyber incident asked Nischal Shetty to give the on-chain proof of this new development to ensure that the WazirX team were not making people fool through fake PR tactics.
Following this tweet, many critics jumped against WazirX exchange and said that they didn’t do anything for the customers because they recovered a very small amount, but already they grabbed huge amounts of customers’ funds to fight against WazirX customers.
Following this good news, the trade price of WazirX’s native token, $WRX, surged 23% within 24 hours.
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WazirX Exchange Successfully Freezes Some Stolen Funds and Says It Is Just the Beginning
