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WazirX to List Its 240,000 Wallets and Balances as Part of Debt Restructuring

Author: Content Editor
Indian cryptocurrency exchange WazirX plans to disclose the wallet addresses and balances of over 240,000 users in an affidavit submitted to the High Court of Singapore. The move comes as part of the exchange's ongoing debt restructuring efforts following a $230 million cyberattack in July. WazirX's holding company, Zettai, is overseeing the restructuring process. The exchange aims to rebuild trust by providing transparency and ensuring creditors and users are informed. Most wallet balances have already been consolidated, with the remaining balances being carefully managed to avoid high network fees. The cyberattack involved the theft of assets including Pepe, Gala Games, Tether, and Ethereum. WazirX has since resumed partial withdrawals of Indian Rupee but crypto withdrawals remain suspended. The Singapore High Court granted WazirX a four-month moratorium, but legal disputes with competitor CoinSwitch have complicated the process. State-backed actors, potentially including the North Korean Lazarus Group, are suspected to be involved in the breach.

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