India, 17th Jan, 2025: As part of the ongoing recovery efforts following last year’s cyberattack, WazirX has been successful in freezing the first tranche of assets that were stolen during the cyberattack (“Stolen Assets”), worth ~$3M USDT. Abiding by their efforts of recovery of Stolen Assets while the platform goes through restructuring proceedings, Zettai has been working in partnership with law enforcement agencies, forensic experts, investigating authorities as well as legal experts to trace and retrieve stolen assets while charting the best course of action for all of the Platform’s affected users.
Commenting on the development, Nischal Shetty, founder, WazirX said, “This is just the beginning; we are fully committed to recovering the Stolen Funds, leaving no stone unturned to maximise recoveries under a Scheme. We appreciate our users’ patience and support as we navigate this challenging situation together.”
“Efforts to recover Stolen Assets are fully under way and moving in the right direction – between on-chain forensic work and legal avenues against third parties complicit in the hack and subsequent dissipation, the Company is well prepared to maximise the recovery of Stolen Assets for the benefit of Scheme Creditors under a Scheme,” said Jason Kardachi, Managing Director and Co-Head of Global Restructuring Practice, Kroll.
This announcement follows a joint statement from the governments of the United States, South Korea, and Japan, which officially attributed the WazirX cyberattack to North Korean hackers.
________________________________________________________________
For more information on the scheme or details on the voting process, please visit https://wazirx.com/
For more information, please contact: [email protected]
More from the Press:
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
