Tag: WarziX

WazirX Hack: Authorities Recover $3M in Frozen Assets

Investigators froze $3M stolen from WazirX’s $230M hack. They blamed it all on North Korean hackers. Recovery efforts continue with blockchain forensics and legal action.



Six months after a massive cyberattack rocked WazirX, investigators have frozen $3 million in stolen cryptocurrency. The attack that went down on July last year, in India made hackers a massive $230 million in digital assets.

This $3M recovery milestone gives a glimmer of hope to victims, signaling progress in the hunt to reclaim their stolen funds. Zettai Pte Ltd, WazirX’s parent company, has teamed up with law enforcement, forensic experts, and legal teams to track down the cash.

In a major twist, a joint statement from the U.S., South Korea, and Japan pinned the attack on North Korean hackers. Yup, DPRK cybercriminals are getting the blame.

WazirX founder Nischal Shetty is fired up, calling this recovery “just the beginning.” The company’s game plan is all about relentless effort to maximize fund recovery.

Jason Kardachi, from restructuring experts Kroll, broke it down: blockchain forensics plus legal actions are key tools to recover more of the stolen loot.

But let’s be real—chasing crypto thieves, especially international ones, is like solving a puzzle with missing pieces. The mission isn’t over, but at least the fight’s on.

Also Read: Solana Foundation Clarifies Stance on Andrew Tate Hackathon Controversy

WazirX Token (WRX) Plummets 90% in Just 10 Days

WRX tanked 90% in 10 days, hitting $0.0144 after Binance announced its delisting on Dec 18, causing a 40% drop in just an hour. It’s bouncing back slightly, up 53% in 24 hours, but still down 88% for the week. WazirX now faces serious challenges in a shaky market.

WazirX’s WRX token is having a rough time, crashing 90% in just 10 days. On December 25, it hit a critical low of $0.0144, leaving investors wondering if it could make a comeback. While WRX has seen a slight rebound, jumping 53.46% in the last 24 hours to $0.01873, it’s still down a staggering 88.08% for the week.

The chaos started on 18th of this month when Binance dropped the bombshell news of delisting WRX. Within an hour, the token nosedived 40% which came as a surprise to the WazirX community and left many scrambling. The delisting was yet another hit for WazirX, which has been struggling to maintain stability in the volatile crypto market.

Now, all eyes are on WRX to see if it can recover or if it’s heading for deeper losses. The Indian crypto exchange is facing a tough battle, trying to regain investor confidence while navigating a shaky market.

Currently the token’s fate hangs in the balance, and its ability to stabilize will determine if this is a temporary setback or the beginning of the end for WRX. Investors are keeping their fingers crossed for a turnaround.

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Bengal Man Nabbed by Delhi Police for ₹2000 Cr WazirX Hack

Delhi police busted a Bengal man, SK Masud Alam in case of a maassive ₹2,000 crore WazirX hack using a fake account sold on Telegram. After the arrest, WarzirX cooperated but custody firm liminal isn’t sharing any info outside. Cops are suspecting an inside job and are investigating further to uncover more links related to this massive cyber attack.

Delhi police have successfully arrested an individual named SK Masud Alam. He is from West Bengal and had serious connections with a cyberattack on cryptocurrency exchange. The platform they were using to lure in victims was WarzirX, they used this platform to steal digital assets worth ₹2,000 crore.

Basically he ran this attack by setting up a fake account, which especially targeted WazirX’s hot wallet and attempted to breach its cold wallet. This attack was reported as one of the largest breaches in the crypto sector, drawing attention from higher ups on security vulnerabilities within the digital asset exchange.

Read more about: South Korea Busts $230M Crypto Scam: 215 Arrested, 15,000 Victims

The main person, Alam is a resident of East Midnapore in West Bengal and was  apprehended by Delhi Police’s Special Cell following an investigation led by the Intelligence Fusion and Strategic Operations (IFSO) division. Alam created a fake WazirX account in the name of Souvik Mondal, which he later sold via Telegram to an individual named M Hasan. This account was the main one carrying out the cyber attacks. The authorities are continuing their investigation on Alam suspecting that this might be more larger network than what it seems to look like.

Liminal custody, the firm that secured WazirX’s wallets is in hot water for not helping out Delhi Police with the investigations. Despite their repeated attempts, they didn’t share any key infos which raised questions about security practices. Cops plan to dig into Liminal’s role further in a follow-up chargesheet.

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