Indian crypto exchange WazirX, that was hacked for over $230 million (roughly Rs. 1,928 crore) on July 18, is moving ahead with resuming some services on its platform after more than a month of suspension. In a statement released over the weekend, the exchange said it was resuming INR withdrawals starting Monday, August 26. WazirX … Read more
Zettai Pte Ltd, the Singapore-based majority stakeholder in WazirX, has sought a moratorium in order to restructure its finances. A moratorium can be explained as a legal authorisation to debtors to postpone payments. Zettai’s application, filed in a Singapore court, is part of the firm’s attempt to buy some time for WazirX to restructure its … Read more
Indian crypto exchange CoinSwitch has decided to take legal action against its troubled contemporary WazirX in an attempt to recover its funds stuck on the latter’s platform following a hack last month. In a detailed post published on X, CoinSwitch disclosed that two percent of its total funds — worth Rs. 810 crore (roughly $9.65 … Read more
On Monday, September 2, the WazirX team, including co-founder Nischal Shetty, held a virtual townhall with members of the media. During this meeting, Shetty informed Gadgets360 that users in urgent need of funds have begun withdrawing their Indian Rupee (INR) balances from the platform. Initially, after the unfreezing of 66 percent of users’ INR balances … Read more
Hedge funds have been aggressively shorting ether (ETH) during the recent uptick to $3,000 as they attempt to harvest a yield by carrying out a basis trade. Hedge funds are shorting ether to the tune of $1.73 billion on the CME, a venue favored by institutional traders, according to data from the Block, which cites … Read more
Binance, which recently gained FIU approval in India, is collaborating with local law enforcement to investigate crypto-related crimes. In a recent update, Binance announced its involvement with Delhi Police in probing a renewable energy fraud case. As part of this investigation, Rs. 84 lakh (100,000 USDT) has been seized. In a statement issued on October … Read more
Crypto tracking firm Arkham Intelligence has raised an alert regarding a significant theft in the US. According to its tracking data, a US government crypto wallet containing assets seized from the 2016 Bitfinex hack has been compromised by an unknown hacker. Arkham reports that approximately $20 million (roughly Rs. 168 crore) has been stolen from … Read more
“Please don’t fall for misinformation,” Indian crypto exchange CoinDCX’s Co-founder and CEO, Sumit Gupta, said Saturday amid allegations that the exchange moved user funds to non-compliant entities in Lithuania. The allegation was reportedly made by another Indian exchange, WazirX, which has been under scrutiny since last year’s $230 million hack. In an affidavit filed as … Read more
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, … Read more
In recent years, rising crime in the crypto space has drawn the attention of the FBI and other global law enforcement agencies. To aid in tracking laundered crypto funds, Tron, Tether, and TRM Labs established T3, a specialized financial crime unit aimed at curbing illicit activities. In a recent update, Tron confirmed that T3 has … Read more