Indian cryptocurrency exchange WazirX is looking for a new custodian partner that can provide insurance for user funds in order to improve security and minimize risk. This comes after the exchange experienced a major cyberattack in July. WazirX has also launched a dual proof-of-reserves dashboard to enhance transparency and allow users to independently verify wallet addresses and asset balances. The exchange is working with government agencies to investigate the cyberattack and is exploring options to enhance user recoveries, including capital injections and profit-sharing arrangements. WazirX aims to return 52-55% of remaining crypto assets to clients within six months as part of its restructuring efforts.
- Content Editor ( crypto.news )
- 2024-10-25
WazirX seeks new custodian partner with insurance for funds