tl;dr
WazirX, a major Indian cryptocurrency exchange, is embroiled in controversy over a poll conducted after a $230 million hack. The poll, criticized by industry peers and customers, presented options for distributing remaining funds and has raised concerns about fairness and legality. WazirX's co-found...
WazirX, a major Indian cryptocurrency exchange, is embroiled in controversy over a poll conducted after a $230 million hack. The poll, criticized by industry peers and customers, presented options for distributing remaining funds and has raised concerns about fairness and legality.
Competing exchange founders and customers have expressed disapproval, questioning the proposed strategy's fairness and legality.
WazirX has reportedly sought assistance from former partner Binance to compensate affected customers. The incident raises doubts about the exchange's ability to manage security risks and maintain user trust.
WazirX has launched bounty programs to recover stolen funds and aims to resume withdrawals pending legal review and positive poll results.
WazirX's co-founder clarified that the poll was not binding and promised a more comprehensive feedback form. Co-founders of competing exchanges, including Giottus, CoinDCX, and Unocoin, publicly expressed their disapproval of WazirX’s handling of the situation.
Reports suggest that WazirX has reached out to its former partner, Binance, seeking assistance in compensating affected customers. However, WazirX has not yet confirmed these reports.
WazirX has launched two bounty programs for on-chain investigators, offering up to $10,000 in Tether (USDT) for actionable intelligence leading to the freezing of stolen funds. The founder also emphasized the need for legal review, stating that they were consulting with legal experts on the duration of the poll and the potential date for reopening the platform if poll results are positive.
More about Telephone and Data Systems Inc
Company: Telephone and Data Systems Inc
Industry: Technology, Telephone Communications (No Radiotelephone)
Market Cap: 2385493000
Dividend Yield: 0.745
EPS: -4.88
P/E Ratio: 45.3
Beta: -0.0936
Revenue: 5119000000
ROE: 21
Net Margin: -0.118
Current Ratio: -0.031