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WazirX

Officials from India’s Financial Intelligence Unit and other agencies are probing WazirX over a $235 million crypto hack, as the exchange investigates potential insider involvement. 
<a href="https://crypto.news/tag/india/" target="_blank">Indian</a> cryptocurrency exchange <a href="https://crypto.news/tag/wazirx/" target="_blank">WazirX</a> is collaborating with government agencies, including the Financial Intelligence Unit, to address the aftermath of a cyberattack that resulted in the theft of $235 million from its wallet in July, Moneycontrol <a href="https://www.moneycontrol.com/news/business/personal-finance/wazirx-officials-face-questions-as-sleuths-from-govt-agencies-probe-235-mn-crypto-hack-12836798.html" target="_blank" rel="nofollow">has learned</a>, citing sources close to the matter. 
The exchange has reportedly provided authorities with detailed server logs, transaction trails, and blockchain addresses related to the hack. While no physical assets have been seized, WazirX continues to engage in multiple meetings with regulatory bodies, the report reads. 
The FIU has also reached out to other stakeholders in the crypto sector to assess the broader implications of the hack, which has raised concerns about the unregulated nature of the industry and its impact on retail investors. 
 You might also like: <a rel="" href="https://crypto.news/binance-fires-back-at-wazirx-over-control-claims/"> Binance fires back at WazirX over control claims </a> 
WazirX plans to publicly disclose wallet addresses through court affidavits and respond to user queries as part of its commitment to transparency. The exchange aims to form a 10-member committee of creditors by Oct. 9 to guide its restructuring efforts, with hopes of returning 52-55% of the remaining crypto assets to clients within six months. 
WazirX’s parent company, Zettai, has reportedly also initiated discussions with 11 potential partners, receiving preliminary proposals aimed at enhancing user recoveries through capital injections and profit-sharing strategies, though details of those talks remain unclear. 
WazirX incurred a&nbsp;<a href="https://crypto.news/wazirx-halts-trading-closes-deposits-following-235m-attack/" target="_blank">$235 million</a>&nbsp;loss from the July 18 cyber-attack, which severely impacted the exchange and led it to seek a Scheme of Arrangement in Singapore, a restructuring process under local insolvency laws. An independent audit by Grant Thornton later <a href="https://crypto.news/audit-finds-230m-wazirx-hack-originated-outside-liminal-custody/" target="_blank">found no evidence</a> implicating Liminal Custody’s infrastructure — at the time, WazirX’s custodian partner — in the multi-million dollar hack. 
 Read more: <a rel="" href="https://crypto.news/the-inside-story-of-wazirxs-235m-hack/"> The inside story of WazirX’s $235M hack and how it’s destroying users lives left without answers </a>

India’s officials probe crypto exchange WazirX over $235m hack: report

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