WazirX Trading Stopped

Bittime - WazirX halts trading after a cyberattack steals $235 million. A bounty program was launched to recover assets, while more than 500 exchanges were contacted to block theft addresses. The importance of Web3 community support and broad collaboration was emphasized.

WazirX Trading Stopped

After a cyberattack stole $235 million, India's leading crypto asset exchange, WazirX, halted trading. In response, WazirX launched a bounty program to encourage experts and the community to help recover stolen assets.

Many Exchanges are contacted to Block Address Theft

More than five hundred exchanges were contacted by exchanges to block addresses linked to the theft and cooperate with law enforcement as well as forensic experts.

Nischal Shetty, one of the founders, stressed the importance of extensive cooperation to trace the funds, file police reports, and notify authorities such as CERT-In and the Financial Intelligence Unit (FIU).

The Importance of Web3 Community Support

It is considered that Web3 community support is critical to resolving this issue. Additionally, Binance will return to India to pay a $2 million fine for non-compliance. 

Attack On WazirX Includes Largest Exchange Hack

This attack involving WazirX, which was followed by a $305 million DMM exploit, was the second-largest centralized exchange hack in recent memory. According to crypto investigator ZachXBT, the perpetrator's wallet still holds more than $104 million. 

Conclusion

A cyberattack that stole $235 million from one of India's leading crypto asset exchanges, WazirX, has halted trading. WazirX launched a bounty program that engages the community and experts to help recover stolen assets. More than 500 exchanges were contacted to prevent theft. They work closely with law enforcement and forensic experts to do so.

WazirX co-founder Nishal Shetty emphasized that broad cooperation is essential to trace stolen funds and report them to authorities such as CERT-In and FIU. The Web3 community is also considered important for solving this problem. Additionally, Binance will return to India to pay a $2 million fine as a result of its previous failure to comply with regulations.

The recent attack on WazirX and its $305 million DMM exploit was the second largest centralized exchange hack. The perpetrators still had more than $104 million in their wallets, according to ZachXBT, a crypto investigator. This situation shows that crypto exchanges are vulnerable to cyberattacks, and that strict security measures and community support are essential to mitigate the effects of such attacks.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.