Bybit, a cryptocurrency exchange, recently experienced a hack that resulted in around $1.5 billion worth of ETH being lost. Despite this significant loss, Bybit was able to address the issue promptly and restore liquidity to allow users to withdraw funds within a couple of days. However, it has been revealed that WazirX, another cryptocurrency exchange, discreetly moved around 600 crore worth of funds from Bybit without providing any explanation or announcement. The co-founder of Crypto India and market analyst, Aditya Singh, brought attention to this matter and questioned what would have happened if Bybit had not covered the losses. WazirX's lack of communication and action regarding this issue, coupled with their previous hack in 2024, is causing concerns about their commitment to helping victims recover their lost funds. Meanwhile, other Indian crypto exchanges, such as CoinDCX and Coinswitch, have assured their users that their funds are safe and have addressed the Bybit hack openly. WazirX's silence and potential delay in redistributing funds may harm their reputation in the long run.



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