2024

Bitcoin

WazirX

Coin

<ul class="wp-block-list news-points">
 <li>WazirX is securing assets with cold wallet transfers before the final distribution.</li>
 <li>$200 million transfer sparks speculation about Binance’s role in WazirX’s recovery.</li>
 <li>WazirX plans to distribute funds in crypto tokens, not fiat, after rebalancing.</li>
</ul>
WazirX has given its users an update on its asset rebalancing. This comes after concerns about unexpected wallet movements. The exchange said the transfers between cold storage wallets are temporary. They aim to secure assets before their final distribution.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4e2.png" alt="📢" class="wp-smiley" style="height: 1em; max-height: 1em;"> Update on Asset Rebalancing We are currently in the process of rebalancing tokens. As part of this, you may notice fund movements between various cold wallets. The temporary consolidation of assets is a necessary step before final allocations to secure cold wallets. Once the… <a href="https://t.co/JdJPCeI3Rs" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/JdJPCeI3Rs</a>— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) <a href="https://twitter.com/WazirXIndia/status/1867435036376756641?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 13, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
WazirX said that once the rebalancing is done, all cold wallets and tokens will be public. The update addressed concerns about the wallet activity and assured users that their funds are safe.&nbsp;
This announcement comes after the WazirX hack, which cost $235 million in digital assets. Th…
The post <a href="https://coinedition.com/wazirx-asset-rebalancing-200m-wallet-activity-sparks-binance-theories/" rel="noopener noreferrer nofollow">WazirX Asset Rebalancing: $200M Wallet Activity Sparks Binance Theories</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

WazirX Asset Rebalancing: $200M Wallet Activity Sparks Binance Theories

Coin Edition

Other articles published on Dec 13, 2024

Bitcoin’s Path to $155K: How the Fibonacci Resistance Will Shape the Next Move

PEPE and BONK Beware: The Next Big Meme Coin Is in Presale With a Growth Forecast

Frank Ahlgren III Receives Prison Sentence for Tax Fraud

Matrixport sees 60% upside for Bitcoin, targets BTC price to hit $160,000 in 2025

ETH staking ETFs have potential to surpass Bitcoin ETF: Bitcoin Suisse

French Hill Becomes New House Financial Services Chair

Join our free newsletter for daily crypto updates!