Can WazirX Restore Trust in CEXs with Its Recovery Plan?

Journalist

• WazirX successfully restored user balances and reversed trades following the $230 million cyberattack, aiming to regain trust in the platform.
• The hack exposed vulnerabilities in WazirX’s multisignature wallet, leading to a loss of trust among users.

The Indian cryptocurrency exchange has announced a major effort to recover from a security breach that occurred in July 2024.

WazirX also has an FAQ section that provides detailed information about the plan. Users are encouraged to refer to this for further details.

Recent Developments:

The WazirX hack resulted in $230 million being stolen. This incident revealed significant weaknesses in WazirX’s security measures, causing users’ trust in the platform to decline sharply.