TechFlow news, on August 13, WazirX posted an update on the recent security incident via its X platform. The platform is about to complete the restoration of all transaction balances from July 18 to 21. This measure will reverse all transactions conducted on WazirX after withdrawals were suspended at 1:00 PM IST on July 18, 2024.
To ensure the resumption of withdrawal functionality, WazirX is working closely with legal experts to develop an effective approach. Meanwhile, the platform's bounty program has attracted 344 participants, including security professionals and ethical hackers, who are actively tracking the movement of the stolen funds.
To mitigate the financial impact of this cyberattack, WazirX is engaging with multiple partners to explore all possible solutions. Currently, the platform is in negotiations with seven partners and has made steady progress throughout the process. WazirX thanks its users for their patience and support, and commits to providing ongoing updates as developments occur.
