- Trade restorations for July 18-21 almost complete.
- Legal experts consulted for enabling withdrawals.
- 344 bounty hunters tracking stolen funds.
- Discussions with seven partners for financial recovery.
Trade Restorations Nearing Completion
WazirX is close to finalizing the restoration of balances for trades conducted between July 18 and 21, 2024. The company is working diligently to reverse all trades executed on its platform after withdrawals were halted on July 18 at 1 PM IST. This restoration aims to undo any financial impacts on users due to the stoppage.
The process has been a top priority for WazirX, ensuring that users’ balances reflect accurate figures after the platform’s temporary halt in operations. The team is meticulously reviewing each transaction to guarantee fairness and accuracy, addressing concerns raised by the community during this challenging period.
Ongoing Efforts and Partnerships
In addition to the restoration efforts, WazirX is collaborating with legal experts to devise a method for re-enabling withdrawals securely. The legal team’s involvement is critical in navigating the complexities arising from the recent cyberattack, ensuring that any steps taken are both legally sound and effective in protecting user interests.
Furthermore, WazirX’s Bounty Program has seen significant engagement, with 344 entries from security professionals and ethical hackers. These individuals are actively tracking the stolen funds, contributing their expertise to help WazirX recover from the breach. The program highlights the platform’s commitment to utilizing all available resources to address the incident.
To mitigate the financial impact of the cyberattack, WazirX is in discussions with multiple partners. Currently, the platform is negotiating with seven partners, exploring various solutions to support the recovery process. These discussions are progressing steadily, with WazirX focused on securing the best possible outcomes for its users.
