EddieJayonCrypto
22 Jul 24
Indian crypto exchange WazirX announced a temporary trading suspension to conduct a forensic data examination following a cyber attack impacting its collateral maintenance. The exchange is working on enabling withdrawals and analyzing the stolen assets to devise a recovery plan. Trading volumes on t...
Indian crypto exchange WazirX has announced a temporary trading suspension to conduct a forensic data examination following a cyber attack impacting its collateral maintenance. The exchange is working on enabling withdrawals and analyzing the stolen assets to devise a recovery plan. Trading volumes on the exchange had already decreased post the $230 million hack, with reports of phishing attacks targeting users with fraudulent compensation emails.
CEO Nischal Shetty acknowledged the longer recovery path and urged patience from investors. Just hours after revealing a $23 million bounty program to recover stolen funds, WazirX announced a temporary suspension of trading to carry out a forensic data examination. The exchange stated that it is conducting forensic data examination as well as security audit procedures to enable withdrawals very soon.
WazirX founder Nischal Shetty said that they would be working to find out the best way to enable withdrawals. He further admitted that the path to the total recovery will be longer from here onwards. The trading volumes on the Indian crypto exchange had already tanked on the following day of the $230 million crypto hack. In addition, the exchange also faced a large number of phishing attacks with hackers taking advantage of the security vulnerability.
More about Optical Cable Corporation
Optical Cable Corporation manufactures and sells fiber optic and copper data communications cabling and connectivity solutions primarily for the enterprise market in the United States and internationally. The company is headquartered in Roanoke, Virginia.
Manufacturing, Drawing & Insulating of Nonferrous Wire
Previous Close: $-0.54
Open: $8.36
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