CandleFocus WazirX News Today: Delhi High Court Orders Fresh Probe into $235M Hack
2024-12-19
Author: Content Editor
The Delhi High Court has ordered a fresh investigation into the $235 million hack of Indian cryptocurrency exchange, WazirX. The court's directive follows the police's failure to find evidence in their initial probe and alleges the involvement of a North Korean hacking group. WazirX had already recovered 57% of the stolen funds, but 43% remains untraceable. In a separate development, Binance, which has no ownership stake in WazirX, announced it would delist WazirX's native token, WRX, due to the exchange's failure to meet operational norms. The delisting has caused a 51% drop in the value of WRX. WazirX plans to relaunch with increased transparency and focus on a decentralized exchange model.
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