WazirX halts open orders amid INR issues
WazirX halts open orders amid INR issues
WazirX, one of India's largest cryptocurrency exchanges, has recently canceled all open orders on its platform, citing ongoing issues with crypto balances and transactions involving the Indian Rupee (INR).
This sudden move has caused concern among users and the crypto community. The decision is part of the exchange’s ongoing efforts to resolve issues related to the Indian Rupee (INR) and crypto balances, Decrypt reported.
WazirX informed its users through a message on X that any INR and crypto assets tied up in the canceled orders would be returned to their respective balances. The exchange emphasized that this step was necessary to protect users and ensure the accuracy of their balances, while it continues to address the technical and security challenges it faces.
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The move comes in the wake of a significant $230 million hack that the exchange suffered in July, where hackers managed to steal many assets, including $102 million worth of Shiba Inu, $52 million in Ethereum and $11.2 million in Polygon's native token Matic, raising significant concerns about the exchange's security. The cyberattack targeted one of WazirX’s multi-signature wallets, which was managed using services from digital asset custody provider Liminal.
Although the exchange has been working to mitigate the damage and secure its platform since the breach, the cancellation of open orders raises questions about whether the current issues are related to the fallout from the hack.
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WazirX has yet to clarify if there is a direct link between the recent order cancellations and the July security breach. However, the exchange confirmed that it is still working on resolving the ongoing issues. Requests for further comments on the connection between the two incidents have so far gone unanswered.
Despite these challenges, WazirX continues to position itself as one of the most trusted and rapidly growing cryptocurrency exchanges in India.
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