As a seasoned financial analyst with extensive experience in the cryptocurrency market, I cannot help but feel a sense of unease as I read about the security breach at WazirX that resulted in over $230 million in user funds being lost. The incident, confirmed by an X post from the exchange, has left the crypto community on edge and understandably so.
As a crypto market analyst, I’d rephrase that statement as follows: On Thursday mornings in Europe, more than $230 million worth of digital assets were withdrawn from WazirX exchange due to a security incident that compromised one of their wallets, resulting in the unfortunate loss of user funds.
The exchange acknowledged that one of their multi-signature wallets has been compromised. They’re currently looking into the matter to understand the extent of the issue. For your protection, they have suspended INR and crypto withdrawals in the meantime.
This is a developing story and will be updated.
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2024-07-18 11:34