The WazirX team confirmed that the WazirX platform is ready to reopen crypto trading services.
WazirX was a popular crypto trading platform in the jurisdiction of India. More than four months ago, this platform faced a hacking incident and lost almost half of customer funds; Until then, the services of this exchange have not been available. Currently, WazirX leaders are busy obtaining regulatory approval to legally restart crypto trading services.
On December 18, 2024, WazirX team informed WazirX clients that the exchange is ready for a new restart of WazirX crypto trading services with better efficiency and focus.
WazirX reported that they are currently waiting to obtain regulatory approval to reopen services and simultaneously launch a new decentralized crypto exchange (DEX) with a more specialized and user-friendly ecosystem.
With ongoing efforts, the WazirX team aimed to prioritize equity, efficiency and improved services for all plan creditors.
Yesterday, the WazirX team confirmed that the value of portfolio funds belonging to WazirX clients increased significantly. Now the WazirX team will use these funds to support RTs, a type of centralized token that the WazirX exchange will deliver to clients.
The WazirX exchange will reportedly use the excess value to purchase RT to provide price stability to the token’s value.
Binance to delist WazirX ($WRX) token
On December 18, 2024, crypto exchange Binance announced the delisting of three crypto tokens, including WazirX’s native token, $WRX.
Following this news, the trading price of the $WRX token plummeted by 57% in the last 24 hours. The current trading price of this cryptocurrency is $0.1.
Some cryptocurrency investors claimed that Binance took this action because the trading volume of this cryptocurrency plummeted, as cryptocurrency investors’ confidence in the $WRX token degraded significantly in the last 4 months, because the WazirX exchange has been struggling a lot.
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