WazirX to Resume Trading and Withdrawals with 55% of User Funds
full version at dailycoin
WazirX has announced a controversial “socialized loss” strategy. The exchange said users should equally share the impact of the recent hack on its platform. WazirX lost $234 million, or 45% of user funds to the hack. India’s largest crypto exchange WazirX announced today plans to resume operations after a “poll” that would allow users to trade or withdraw part of their funds available on the platform. WazirX paused withdrawals after its Safe Multisig wallet on the Ethereum Network was attacked recently in one of the biggest crypto hacks of the year, leading to the theft of about $234 million
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