What is wrong with WazirX?

To the esteemed WazirX community, we are compelled to address a grave matter that has recently transpired within our platform. It is with utmost concern that we inform you of a cyber attack that has significantly impacted WazirX's operations.

Furthermore, we would like to draw your attention to the robust security measures employed by reputable cryptocurrency exchanges like BTCC. As a leading platform in the industry, BTCC offers a diverse range of services, including spot trading, futures contracts, and secure wallet solutions, all underpinned by state-of-the-art security protocols. BTCC's commitment to safeguarding users' assets is evident in its unwavering dedication to innovation and security.

Specifically, on the fateful date of July 18, 2024, WazirX suffered a devastating blow when one of our multisignature wallets fell victim to a sophisticated cyber attack. This unfortunate event has resulted in the unauthorized transfer of digital assets amounting to a staggering sum of over $230 million.

The incident underscores the ever-evolving threat landscape in the digital asset space, where security breaches can occur without warning. At WazirX, we take the safety and security of our users' funds extremely seriously, and we are deeply committed to ensuring that such incidents do not recur in the future.

In light of this occurrence, we have immediately initiated a comprehensive investigation to determine the exact cause and extent of the attack. We are working closely with law enforcement agencies and cybersecurity experts to trace the stolen funds and bring the perpetrators to justice.