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WazirX will reverse all trades made between July 18-21 due to a $230 million security breach.
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User portfolios will be restored to their status as of July 18, 2024, at 1 PM IST.
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Fees, referrals, and deposits made during this period will also be reversed.
WazirX, an Indian cryptocurrency exchange, has announced that it will reverse all trades made on its platform between July 18 and July 21, 2024, following a major security breach. The breach caused significant disruptions and concerns among users, leading to a halt in withdrawals on July 18.
To ensure fairness, WazirX will restore all user portfolios to their status as of July 18, 2024, at 1 PM IST. This means that any trades, fees, referrals, and deposits made during this period will be undone. The restoration process will take place over the next few days, and affected users will receive an email with details of the reversed trades.
WazirX emphasized that this decision was necessary to protect the integrity of the platform and provide an equitable solution for all users affected by the cyberattack. The company is working to resume normal operations as soon as possible and will continue to update users with any new information.
