WazirX restores balances post-hack, withdrawal timeline unclear
The delay in withdrawals has impacted individual investors and raised concerns about the overall security and reliability of cryptocurrency exchanges.
Nearly a month after a massive hack rocked the WazirX exchange, resulting in the loss of $234 million of investors’ funds in the Indian crypto exchange’s Safe Multisig wallet, the platform has restored investor balances.
Despite this progress, there is still no clarity on when users will be able to withdraw their funds, leaving many frustrated and anxious.
In an update on Aug. 16, WazirX stated they are working on two main issues: finding a solution for Indian Rupee (INR) balances and resolving issues related to cryptocurrency balances.
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Author: Amaka Nwaokocha
