A new investigation found that the WazirX crypto exchange faced a cyberattack due to the negligence of the WazirX team as well as an issue related to the KYC system.
WazirX was the most popular crypto exchange among Indian crypto traders, but unfortunately, 5 months ago, this crypto exchange faced a hacking incident and in that incident, the exchange lost almost 50% of the users’ funds. customers. Currently, WazirX leadership is seeking regulatory approval from the Singapore court to reopen crypto trading services.
In the initial phase of investigation of this case, the Indian authorities investigated the case and found that a person named Souvik Mondal was behind the WazirX hacking account.
A subsequent investigation found that Mondal was unemployed and had never heard of cryptocurrencies and that someone used his identity to create an account on the WazirX crypto exchange. Another person, Masoud Alam, reportedly used his KYC details and personal mobile number to create an account.
In the investigation, Alam said that he was a small cryptocurrency investor who was contacted by another person, Hasan.
A popular Crypto a WazirX account you own. to an uneducated person, which is an abnormal case.
According to the latest reports, WazirX has extended the planned date of distributing funds to clients until April 2025, more than 2 months than initially planned. According to the allegations, the representative of WazirX forcibly asked the court to extend the deadline to have more time to deceive customers.
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