In a new twist of events concerning the WazirX hack, the hackers have switched $32M worth of stolen Ether (ETH) through the Tornado Cash. Since Monday, $15,000 ETH has been shifted with three tranches of 5,000 ETH transferred over the past 4 days as per the Peckshield alerts. However, even after such big transactions, the hacker’s wallet has more than $50 million worth of tokens, mainly in ETH.
Nischal Shetty defends Zettai’s position amidst restructing
Based in Singapore, WazirX’s founder Nischal Shetty, and the director of Zettai Pte Ltd also known as Zettai has filed a third affidavit about the insolvency process and restructuring that the company is undergoing.
In the affidavit, Shetty gives new information in various areas such as creditor management, restructuring plans and the change in blames over the hack.
First of all, Zettai has sought protection of moratorium to stop creditor’s actions during the rehabilitation procedure, which is accompanied by opposition.
Binance excludes itself from ongoing legal dispute
Another section of the affidavit that received significant attention is Shetty’s allegations against Binance. In August, Shetty stated that Binance effectively had a tight grip over the funds in WazirX, something that hindered Zettai from refunding the clients defrauded in the hack.
Binance quickly dismissed these allegations, and on September 17, 2024, the company published a response containing the decision of the Binance side, according to which Shetty succeeded in misrepresenting the cooperation between WazirX and Binance.
These claims are again reiterated in the affidavit filed by Shetty but the Binance has time and again affirmed in its defence stating that it had never owned or possessed WazirX.
In its blog post, Binance said, “It is further clarified that the WazirX team and Nischal Shetty have continued to mislead WazirX customers and the market on the relationship between WazirX and Binance,” Binance added that it has not owned, controlled, or operated WazirX at any time; before, during or after the July 2024 attack This was a response Binance
White Knight investors and creditor engagement
Shetty’s affidavit deposed for Zettai, included the latter’s attempt to reach out to various creditors and solicit for possible “white knight” investors.
To this end, Zettai has held discussions with major cryptocurrency exchanges interested in a possible bailout with three potential bids so far.
Such updates have been made in town hall meetings where creditors are informed of the progress; further, more questions and answers sessions have been arranged to deal with continuing problems.
Despite the future of WazirX being unknown, the affidavit filed by Shetty provides a lot of explanation on behalf of Zettai in regards to the attempts of restructuring the company and compensate the affected users.
But the recent official statements by Binance refuting any association with WazirX has raised questions on the authenticity of these allegations levelled by Shetty which has put the credibility of WazirX subscribers and creditors on a toss.
Also Check Out: Crypto Hack Alert: How Cencora Was Forced to Pay $75M to Cybercriminals
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed