The WazirX hack, which resulted in the theft of $235 million in cryptocurrency, has raised concerns about security in the industry. Users affected by the hack are calling for stronger security measures and are missing out on selling opportunities during the current bull run in the market. There has been speculation that Binance, the world's largest cryptocurrency exchange, may step in to reimburse WazirX users, as $200 million has been moved from Binance and WazirX wallets. However, the hacked Indian exchange has temporarily halted withdrawals and is cooperating with authorities. An on-chain investigator flagged the movement of $200 million to a wallet allegedly controlled by WazirX, leading to theories of a potential bailout by Binance. WazirX has posted an asset rebalancing reminder, stating that they are in the process of rebalancing tokens and users may notice fund movement transactions. The exchange plans to share a list of all cold wallets with the respective tokens held once the process is complete. The parent entity of WazirX has filed an application with the Singapore High Court to convene a meeting of its creditors, aiming to regain access to funds and restart the platform. Bitcoin was trading in the $63,000-$64,000 range when the hack occurred, and its price has since surged by more than 66%. WazirX users are currently unable to benefit from the ongoing bull run in the market.



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