Crypto Investors Will Be Able To Withdraw Money From WazirX From Monday
Hey, guys lucky ali here and welcome back to another post this is the update regarding Wazirx exchange hack and i hope this is gonna be a helpful for you. I hope that this is going to be helpful for the Indian crypto community who already facing issues in wazirx due to this hack. Wazirx Users will now be able to withdraw their fund, India's biggest crypto exchange. The WazirX team has announced that INR withdrawal will be allowed on the platform from 26 August date which is today. But, here you have to follow the rule and that rule is 66% withdrawal of total funds. You can only withdraw 66% of your total fund and I don't know when full-fledged withdrawal will start. Something is better than nothing so you should not miss this chance.
Right now forget about the entire fund withdrawal and keep 66%. The previous month, there was a major hacking attack on the WazirX exchange and this attack was successful that's why hackers stole cryptocurrencies worth about 1950 crore INR. The stolen assets of crypto were about 45% of the exchange's total Fund which is huge and almost 50% loss you can say. After this attack, the Wazirx team temporarily suspended the withdrawals. WazirX exchange has said that the fee levied was reduced by 60% on INR withdrawals.
It is clear that the Wazirx exchange does not have enough funds to pay the users who get affected which is why they are providing partial INR withdrawal. In the latest blog post of Wazirx, it is said “ the operating entity for INR-related activities on the WazirX platform is Zanmai Labs Private Limited which is also called zanmai, was not impacted by this cyber attack and the good thing is it has sufficient Indian rupees reserves to cover all Indian rupees user balances, but the thing is not all of these balances are currently available for instant withdrawal.”
We have seen multiple cyber attacks on centralized exchanges and it is not easy to survive for any crypto firms after the cyber attack but thankfully wazirx is coming out and i hope that today users will get their 66% and if they 66% withdraw then we can expect the comeback of wazirx otherwise wazirx will loss the credit in the Indian crypto community and the career of this company will be over in India.
So I would like to know your opinion regarding this topic please do comment below. And if you have funds in Wazirx exchange and have any withdrawals or not please let me know in the comment. Please share this post on social media. I will meet you in my next blog till then take care.
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |
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