Tuff Time of WazirX - India' Cryto Exchange.
Namaste 🙏🏻🇮🇳
Hello Friends, How are you all ?? Wishing you all happy and prosperous life ahead.
WazirX is India's Trusted Bitcoin and Crypto currency Exchange and trading Platform, where you can easily Buy and Sell the crypto currency in Indian INR, can do future trading also. Being an Indian i too have an account on wazirx to buy and sell crypto but my first choice for crypto exchange is always Binance. Unfortunately i have some amount in wazirx to easily withdraw to INR, Basically via Wazirx i always buy in Dip and sell out High, simple strategy to have some profit and earn some Money and Easily credited to my Account but from last few weeks there has been some restriction to WazirX, due to which i was unable to sell some of mine Crypto into USDT, even i have transferred some of my crypto into Binance, for which there is some nominal Transaction fee, these are some of reason which force me to reduced accessing it.
Crypto exchange WazirX on August 6 said that based on its previous police complaint in connection to the $230-million cyberattack last month, a first information report (FIR) was filed at PS Special Cell, PS Lodhi Colony in New Delhi.
WazirX’s hack led to a loss of about $230 million from its platform, Which users invested in the wazirx are currently at high risk with the money invested in the platform. This Hack, one of the Highest in recent history of crypto Exchange platform, involved significant breaches of WazirX’s multi-signature wallet.
This is a huge loss which has been faced by the company and the user occurred in cryptocurrency. This is a big shock for the young generation who are coming into the world of cryptocurrency.
Good News For the WazirX On August 8, 2024,announced that it's started the process of restoring it's user account balances following a cyberattack. So warirX Users have some patience and don't worry whoever faced the issue, will ensure fair treatment across the platform. Even the CEO also said that refunds for trading fees and referral incentives earned during the worst time of it. And Users also get Refunded for any tax deductions associated with transactions following the past few days.
Such a wonderful announcement has brought a smile on the faces of investors and Somewhere the shadow of fear is gone. But it remains to be seen how soon investors will be able to recover their losses.
People of India do not believe in investment anyway, If we talk about cryptocurrency then India is far behind as compared to other countries. Somewhere the reason is that due to the arrival of new hack,scams by the big company people's confidence is increasing even more. Anyway, the investor or traders are already troubled by the upswing of the Market but these big crypto exchanges are providing more problems to the Users, Because of which people are getting reduced per day in the world of cryptocurrency.
There is a lot of up and down going on in WazirX, may Situation get sorted soon.
Thankyou 😃
@gargi
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