Crypto Exchange WazirX Starts Balance Withdrawal Services for its Users, Bitcoin, Solana, Ether

WazirX, one of the major crypto exchanges, was targeted by hackers last month. In this the exchange suffered a loss of more than $230 million. After this, WazirX had stopped some services like withdrawal of funds for the users. This exchange has informed about starting the facility of withdrawal of their funds for the users.

Although, exchange Users will be able to withdraw only 66 percent of their funds. Due to the investigation of this hacking case, the remaining funds will remain with the exchange. WazirX said in a statement that between August 26 and September 8, users will be able to withdraw half of the 66 percent limit. After this, between September 9 and September 22, they will get the facility to withdraw funds up to the full limit of 66 percent. WazirX has said that the remaining funds will also be released after the investigation of this matter is completed. However, no time limit has been given for this.

The number of users of WazirX is more than 1.6 crores. Last month, many users of this exchange had posted on social media about their financial difficulties due to stoppage of services like withdrawal. Hackers stole funds worth about $240 million by breaking into a multi-signature wallet of WazirX. The exchange had offered the hacker approximately $23 million (approximately Rs 192 crore) to return this fund. This case had an impact on the crypto market.

This also raised questions about the strength of security in crypto exchanges. WazirX also offered a reward of up to $10,000 to anyone who helps in accessing and seizing the stolen funds. About $240 million (about Rs 1,965 crore) was suspiciously sent from this exchange to a new address linked to the controversial crypto mixer platform, Tornado Cash. WazirX got information about this matter from a post on social media platform X by security firm Cyvers. Cyvers had reported that the address to which funds were sent from WazirX had converted PEPE, GALA and USDT tokens into Ether.