Indian crypto exchange WazirX is doing something pretty drastic after being hacked for a whopping $230 million in July. They’re rolling back all trades made since the hack and restoring everyone’s account balances to what they were before the attack.
Rolling Back the Clock
WazirX says they made this decision after listening to their users. They want to make things fair for everyone and keep their platform secure. So, all users will have their accounts restored to how they looked on July 18th, 2024. This means any trades made after that date will be reversed.
What Happened?
Last month, a hacker stole over $230 million worth of crypto from WazirX. They got away with a bunch of different coins, including Ethereum, Tether, Polygon, Gala, Shiba Inu, and Pepe.
North Korea Suspect
Crypto sleuths think the hacker might be connected to a notorious North Korean hacking group called The Lazarus Group. They’re known for pulling off big crypto heists.
WazirX’s Response
WazirX offered a $23 million reward to anyone who could help track down the stolen funds. It’s a big move, but it shows how serious they are about getting their money back.
What This Means for Users
This rollback is a big deal. It means users who lost money in the hack will get their funds back. However, it also means any profits made after the hack will be wiped out.
Important Note:
This is a complex situation. If you’re a WazirX user, it’s important to stay informed and follow their updates. Remember, crypto investments are risky, and you should always do your own research before making any decisions. /p>
