Updated: August 22, 2024 4:15 AM EDT
Indian exchange WazirX yesterday cancelled all pending orders and returned all INR and crypto assets reserved for these trades to users’ balances.
According to a brief statement on social media platform X, the exchange claimed that the move was part of its “ongoing efforts to address issues surrounding INR and cryptocurrency balances on the platform.”
The beleaguered exchange halted all trading on its platform last month after experiencing a $230 million exploit on July 18. The exchange then proposed a recovery program (or “socialized loss strategy”) that received significant backlash on social media.
At the time, some evidence suggested that North Korea’s infamous Lazarus Group was behind the attack. Crypto assets rarely recover from such attacks.
Earlier this month, WazirX announced plans to cancel all transactions that occurred after the withdrawal freeze it implemented in response to the attack on July 18.
“This decision was not taken lightly and is intended to protect the integrity of the platform and provide fair outcomes for our users following the irregularities resulting from the cyberattack that occurred on July 18, 2024,” the exchange said at the time.
Most recently, it was reported that Google subsidiary Mandiant confirmed that WazirX laptops were not compromised in a cyberattack.
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