The WazirX team confirmed that they bought and sold the remaining funds from clients to compensate for the particular symbolic loss they faced in the cyberattack four months ago.
WazirX was the most popular cryptocurrency trading platform among Indian cryptocurrency traders, but four months ago, this exchange suspended all its cryptocurrency related services for customers as the exchange faced a hacking incident and lost almost the 50% of client funds.
On December 13, 2024, the WazirX team informed WazirX clients that they are currently rebalancing crypto assets, mainly those that were hacked in the cyberattack.
They confirmed that people can find a significant amount of transactions between cold crypto wallets, in which WazirX stores customer funds.
Once this rebalancing and wallet management work is completed, the WazirX team will officially provide an update.
A popular Indian crypto influencer raised questions about WazirX’s decision and asked how they could do this without the customers’ consent and court order.
Many people noted that this decision was illegal and that the WazirX team should ensure proper compliance with all measures as court approval is still a long way away. However, a Crypto
WazirX Coin Price Action
Following this news, the trading price of the $WRX coin, the native token of the WazirX crypto exchange, rose by almost 9% in 30 minutes.
Here, we can say that the latest announcement regarding fund rebalancing by the WazirX team has injected a better level of positivity and hope among the WazirX customers.
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