Hey All,
This is a latest news that is spreading quickly about WazirX one of the renowned Indian Crypto exchange which has suffered a security breach targeting one of its multisig wallets. And know what the hack has hit around $230 million in losses to the crypto exchange. Here is what the WaziX team had to say on their X handle::
The incident happened this Thursday i.e. on 18th July, 2025 and WazirX had confirmed the incident on their X space. With this security breach they had immediately stopped/suspend Indian rupee (INR) and crypto withdrawals to protect user funds while the issue is being investigated. Who is at loss - we the customers. Thankfully, I am not using this exchange and have no crypto funds with them. Most of my crypto is in a decentralized wallet that has nothing to do with CeX [centralized exchange]. Remember the old saying - Not Your Keys, Not Your Coins; always stand true and hence one should take this phrase very seriously and move large funds to a Dex as opposed to keeping it in a Cex. Anyways coming back to the main topic which is security breach on WazirX exchange the company has filed a police complaint in respose to the cyber attack which they have experience. I am not sure how much of help they are going to get with the police the funds lost here is too much $230+ million - the question is will the funds be recovered and if not then what will happen to the users who had their savings invested in crypto and was relying on WazirX for the safety of their funds. Its every easy to say thank you for your patience and understanding. We’ll keep you posted with further updates. Users need their money back irrespective of what investigation you are doing and conducting a deeper analysis of the cyber attack. Do what ever you want to but ensure customers that irrespective of what ever losses their funds are safe and they will be allowed to do the withdrawals immediately. Anyways, lets hope that the WazirX team overcomes this security breach and is able to recovery as much funds as possible and there is no user left with any losses as ultimately its the exchange resposblity to keep users funds safe from all the security breaches and hacks as they are making money from all the crypto trades so when there is a loss they should step us and give it back to the users from all the profits made..why users bear the losses alone... This should be it for todays post guys... If you have funds in WazirX plan out something and check on whats going on there... and remember - Not Your Keys, Not Your Coins.... cheers
Which Crypto exchange do you use? Do you use WazirX exchange? Crypto funds on WaziX - Withdraw? WazirX Vs Bitbns? Would love to hear your thoughts around it in the comment box below? Cheers
#wazirx #indiacrypto #cryptohack #securitybreach #inr #crypto
Best Regards
Image Courtesy:: wazirX, pro canva, twitter - X
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've have an interest in BlockChain & Cryptos and have been investing in many emerging projects.
