WazirX canceled all open orders and refunded assets to users as part of efforts to resolve INR and crypto balance issues.
All open orders on the Indian exchange WazirX were canceled yesterday, and any INR and crypto assets that had been reserved for the aforementioned transactions were returned to the balances of users.
The exchange claimed that the action is part of “ongoing efforts to resolve the issue surrounding INR and crypto balances on the platform” in a brief statement posted on social media platform X.
Last month, the exchange that was under pressure was forced to suspend all trading on its platform due to a $230 million exploit that occurred on July 18. Consequently, the exchange promoted a “socialized loss strategy” or recovery program, which elicited substantial backlash on social media.
At the time, there was some evidence that implied the exploit was the work of North Korea’s notorious Lazarus Group. Cryptocurrency assets seldom recover from such assaults.
WazirX announced earlier this month that it intends to reverse all trades that transpired subsequent to the withdrawal freeze it instituted on July 18 in response to the attack.
“This decision has not been made lightly and aims to protect the integrity of our platform and facilitate an equitable outcome for users following the abnormality arising as a result of the cyberattack which occurred on 18 July, 2024,” the exchange stated at the point in time.
Most recently, Mandiant, a subsidiary of Google, reportedly verified that the cyberattack did not compromise WazirX laptops.
