The infamous hack on the multi-sig wallet belonging to wazirx wazirx Centralised ExchangeCrypto trading and Information an Indian crypto exchange, left its customers’ money missing and on the edge where they lost more than $230 million. Finally, On 5th August 2024, WazirX took to Twitter to inform that they had lodged a First Information Report (FIR) under the BNS & IT Act through the IFSO of the Delhi Police’s Special Cell of Lodhi Colony, New Delhi.

Nischal Shetty the founder of WazirX also came forward to the public to explain the timeline of the legal issues. He insisted that a police complaint was made the following day of the cyber attack but applying for an FIR is not that easy. 

Shetty further informed the customers that the firm is also on the front line conducting investigations to apprehend the criminals and refund the lost cash. “Similar to any other customer, we would also like to call for the arrest of the culprits of this theft, not to mention the return of the stolen funds, ” Shetty added. “We’re constantly working on progressing towards the next steps and solutions. All we ask for is time so that we can work on the way forward.”

The action has received a mixed reaction from the community owing to the above factors. Some remarks to the announcement of fir were frustration and concern with the delay in response as well as the opaqueness. This whole fiasco has reduced user satisfaction as they wanted faster action and better information regarding the recovery process and further security initiatives. 

Looking Forward

WazirX is in touch with the police to get back the lost amount this is alongside tracking the culprits. The exchange has committed to updating the community as it conducts the investigation, and its goal is to regain peoples’ trust in the platform.

Now that WazirX is still actively trying to retrieve the stolen money, the result of this probe will be in some way expected and observed by the investors and the cryptocurrency market in general as everyone involved is patiently waiting for swift positive outcomes.

Read Also: Crypto News Today: Nomad Bridge Hack Leads to Major Ethereum Price Crash!

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