Indian crypto exchange WazirX plans to conduct a poll to let customers vote on whether to reopen the platform for withdrawals, deposits, and trading following a major security breach.
Points
- WazirX will conduct a poll to decide on reopening withdrawals, deposits, and trading.
- The platform experienced a major security breach, leading to the theft of over $230 million.
- WazirX is actively reaching out to projects related to the stolen tokens for recovery assistance.
- The breach occurred through the custody provider, Liminal.
- The exchange emphasizes that INR funds remain unaffected.
Indian cryptocurrency exchange WazirX is planning to set up a poll to allow customers to vote on whether to reopen the platform for withdrawals, deposits, and trading. This comes after a major security breach resulted in the theft of over $230 million.
Security Breach and Recovery Efforts
The attack occurred through WazirX’s custody provider, Liminal. Despite the breach, Liminal has assured that all WazirX wallets on its platform are secure, and the malicious transactions happened outside its system. To gauge user preferences on how to proceed, WazirX will conduct a poll, enabling customers to participate in deciding the best approach for reopening the platform.
Outreach for Recovery
WazirX is actively reaching out to projects associated with the stolen tokens to seek their assistance in the recovery process. In a recent update, WazirX detailed its ongoing efforts to address the security breach and emphasized that INR funds remain unaffected by the incident.
Bounty Program
WazirX has also launched a bounty program to incentivize information leading to the recovery of the stolen funds. This initiative is part of the exchange’s broader strategy to ensure the security and integrity of its platform.
Conclusion
The poll will play a crucial role in determining the future operations of WazirX, reflecting the exchange’s commitment to transparency and user engagement. While the security breach poses significant challenges, WazirX’s proactive recovery efforts and user-centric approach aim to restore confidence in the platform.
解説
- WazirX’s decision to conduct a poll reflects a commitment to user engagement and transparency in its recovery efforts.
- The security breach underscores the importance of robust security measures for crypto exchanges.
- Active outreach to projects associated with the stolen tokens and the bounty program demonstrate WazirX’s proactive approach to recovery.
- Ensuring the security of INR funds helps maintain user trust amid the breach.
- The poll’s outcome will significantly influence WazirX’s future operations and user confidence in the platform.