Hey All,
As we all know that WazirX one of the renowned Indian Crypto exchange which has suffered a security breach targeting one of its multisig wallets. The WazirX team has come up with a bounty program to help recover the stolen funds and know what the prize money here is $23+ Million. You can find the full details on the bug bounty Here. In a nutshell they are looking for::
And each bounty has their terms and conditions which can be found on the bug bounty detailed page on WazirX portal. The team has received 133 entries for our Bounty Program so far and are currently reviewing them. Not sure how effective this is going to be and whether the stolen funds $230 million will be recovered or not. That is the big question here? I am a doubtful if all the funds could be recovered but we can hope for the best at least.
At the moment the WazirX platform hasn't enabled INR and crypto withdrawals as they still continue to figure out various possible directions to enable the platform deposits/withdrawals/trading. The team said in their X tweet that INR funds are not effected by what about the crypto which is stolen and how is that going to impact when the crypto withdrawals are enabled that's the main question to answer and still there is no update on that from the WazirX team. All that the users hear is that we will share more information as it is available. Hard times here for WazirX for sure to come out from this mess and whether they could again gain trust of the customers or not. If people don't get their funds back then definitely nobody is coming. As I said it earlier in my last post about WazirX Security breach; please remember - Not Your Keys, Not Your Coins. That should be it for todays post and 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 responsibility 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...If you have funds in WazirX plan out something and check on what's 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.
