CoinDCX Launches $6m Customer Protection Fund
CoinDCX has established a $6 million contingency fund to protect customer funds during the Indian crypto market’s $230 million WazirX hack recovery. According to a press release, the ‘Crypto Investors Protection Fund’ will function as a safety net to mitigate user losses in the event of a security breach or other unforeseen circumstances that could […]
WazirX Hack Update: Exchange Drops Plan to Share Losses with Users
Following a setback with poll results, the Indian exchange has declined the 55/45 approach, also known as the plan to socialize losses, according to a recent WazirX hack update. In the latest WazirX hack update following the $230 million breach, the exchange has opted to drop its plan of socializing losses. The firm’s idea to socialize […]
India’s BWA Enhances Cybersecurity after WazirX Hack
India’s Bharat Web3 Association (BWA) is doubling its efforts to enhance cybersecurity and consumer protection in the crypto sector after the $230 million WazirX hack. According to local media, Dilip Chenoy, the chairman of the BWA, has established two new internal groups designed to investigate the most recent security breach and resolve these issues. Task […]
WazirX Hacker Transfers $57M ETH, Exchange Increases Bounty
The $230 million WazirX hacker has transferred $57 million in ETH of the stolen funds to two new cryptocurrency addresses. In the most recent endeavor to redirect the stolen assets, the hacker has transmitted 16,350 Ether worth over $57 million to two new crypto wallets. According to a July 22 X post by blockchain security […]
WazirX Responds to Cyber Attack
WazirX combats a major cyber attack by announcing a reward program, filing a police complaint, reporting to FIU and CERT-In, and contacting 500+ exchanges to block stolen funds. This week, WazirX, a prominent exchange in India, announced a reward program for the freezing and recovery of misappropriated assets in response to a significant cyber attack. […]