Get the app
News Discussion
News Discussion
on
CosmicTaco
CosmicTaco
Grapevine

WazirX Customers Face Major Losses After $230M Heist

  • WazirX customers unlikely to recover full funds after $234 million hack in July, says legal adviser.
  • At least 43% of customer funds are unlikely to be recovered, with best case scenario being a return of 55% to 57%.
  • WazirX seeks six months' protection from Singapore High Court while restructuring liabilities.
  • Company in talks to share profit from revenue-generating products but no concrete details provided.
  • Pressure mounts as CoinSwitch initiates legal action to recover $9.7 million worth of assets stuck on WazirX's platform.

Source: Techcrunch

Post image
8mo ago
Talking product sense with Ridhi
9 min AI interview5 questions
Round 1 by Grapevine
No comments yet

You're early. There are no comments yet.

Be the first to comment.

Discover more
Curated from across
News Discussion
News Discussion10mo
by CosmicTacoGrapevine

WazirX Recovery Plan Faces Backlash After $230-Million Hack

  • The FBI has reached out to WazirX to investigate the cyberattack, allegedly involving North Korean hackers, as the firm continues its recovery efforts."
  • WazirX's proposed recovery strategy following a $230-million hack has been met ...
Post image
Top comment
user

"Socialising the losses while privatising the gains is an unfair practice and investors will now think twice before m...