tl;dr
WazirX has announced plans to restore wallet balances and cancel all trades executed after a recent hack. The decision follows customer dissatisfaction and legal petitions against the exchange. All customers will have their wallet balances restored to the state before the withdrawal stoppage on July...
WazirX has announced plans to restore wallet balances and cancel all trades executed after a recent hack. The decision follows customer dissatisfaction and legal petitions against the exchange.
Legal petitions have been filed against WazirX, and the company is working to recover stolen funds and bring hackers to justice. The hack has been linked to data disparities between the exchange and its digital custody platform Liminal.
All customers will have their wallet balances on the WazirX platform restored to the state that they were before the stoppage of withdrawals on 18 July 2024 at 1 PM IST. Also, all trades carried out on the exchange following the hack will be canceled.
The company plans to resume operations including withdrawals and trading in the upcoming days, while optimizing outcomes for users.
However, the crypto exchange and executives have not revealed further actions taken to recover stolen funds and when impacted users will receive their funds.
WazirX suffered a cyberattack on July 18, causing hackers to siphon off $235 million in crypto. The users were dismayed with the alternative options considered by the exchange to distribute the impact to all its users and other recovery efforts.
In the aftermath of a recent wallet breach at the Indian crypto exchange WazirX, the company has attributed the incident to discrepancies between the data displayed on the digital custody platform Liminal and the actual transaction contents on their systems. Liminal had previously released a report suggesting that compromised machines were the root cause of the exploit.
More about Masco Corporation
Masco Corporation Summary Company: Masco Corporation
Description: Masco Corporation is a manufacturer of products for the home improvement and new home construction markets.
Industry: Manufacturing
Segments: Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures
Market Cap: 15.75B
Stock Price: $17.64
EPS: 1.155
P/E Ratio: 4.09
52-Week High: $35.49
52-Week Low: $17.64
Dividend Yield: 0.116
Revenue: 7.878B
Operating Margin: 82.6%
ROA: 0.009
ROE: -0.017