tl;dr
WazirX, a major Indian cryptocurrency exchange, has allocated funds for legal expenses following a cyberattack that resulted in the theft of hundreds of millions of dollars in crypto. The holding company of WazirX has filed for a 30-day moratorium in Singapore's High Court to engage with investors a...
WazirX's holding company, Zettai, has filed for a 30-day moratorium in Singapore's High Court to stabilize the platform and engage with investors and creditors, aiming to recover from a cyberattack that resulted in the theft of hundreds of millions of dollars in crypto. The holding company has liquid assets of $284 million in crypto and is in talks with potential investors to support fund recovery.
Following the cyberattack, WazirX has suspended withdrawals and is working to restore user funds. CoinSwitch has taken legal action against WazirX over funds stuck on its platform. Zettai is considering creditors' needs to receive payouts and engaging financial and legal advisors to support recovery efforts, including discussions with potential investors to inject capital for fund recovery.
The ownership and control of WazirX remain disputed, with ongoing legal and financial restructuring efforts. Zettai has tapped zeroShadow, a third-party blockchain forensics firm, to trace the stolen assets and has contacted over 500 crypto exchanges to block identified wallet addresses linked to the stolen assets.
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Stock Market Analysis: C3 Ai Inc (C3)
Company: C3 Ai Inc
Sector: Technology, Services-Prepackaged Software
Market Cap: $2.92B
Revenue: $310.58M
Price: $28.39
Change: -2.34
Earnings per Share: 2.602
P/E Ratio: -0.901
Volume: 196M
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Stock Analysis Summary
Company: Emeren Group Ltd
Industry: Manufacturing, Semiconductors & Related Devices
Market Cap: 95334000
Headquarters: Stamford, Connecticut
Revenue: 103577000
EPS: -0.31
PE Ratio: 1.915
Net Income: -0.163
Current Price: 4.38
Change: -0.924
Change Percentage: -0.112
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