Crypto Exchange WazirX Starts Balance Withdrawal Services for its Users, Bitcoin, Solana, Ether

WazirX, one of the biggest crypto exchanges, was targeted by hackers last month. The exchange suffered a loss of more than $230 million. After this, WazirX stopped some services like withdrawal of funds for users. This exchange has informed about starting the facility of withdrawal of funds for users.

Although, Exchange Users will be able to withdraw only 66 percent of their funds. Due to the investigation of this hacking case, the remaining funds will remain with the exchange. WazirX said in a statement that between August 26 and September 8, users will be able to withdraw half of the 66 percent limit. After this, between September 9 and September 22, they will get the facility to withdraw funds up to the full limit of 66 percent. WazirX has said that after the investigation of this matter is completed, the remaining funds will also be released. However, no time limit has been given for this.

WazirX has more than 16 million users. Last month, many users of this exchange posted on social media about their financial difficulties due to the suspension of services like withdrawals. Hackers stole funds worth about $240 million by breaking into a multi-signature wallet of WazirX. The exchange offered about $23 million (about Rs 192 crore) to the hacker to return this fund. This matter had an impact on the crypto market.

This also raised questions about the strength of security in crypto exchanges. WazirX also offered a reward of up to $10,000 to the person who helps in accessing and seizing the stolen funds. About $240 million (about Rs 1,965 crore) was suspiciously sent from this exchange to a new address, which is linked to the controversial crypto mixer platform, Tornado Cash. WazirX came to know about this matter from a post on the social media platform X by security firm Cyvers. Cyvers had reported that the address to which the funds were sent from WazirX had converted PEPE, GALA and USDT tokens into Ether.