indian crypto – DIGIT INFO

CoinDCX introduces protection fund to secure Indian crypto users

DIGIT — Tue, 06 Aug 2024 23:30:00 +0000

CoinDCX’s Crypto Investors Protection Fund will enhance user security by allocating 2% of brokerage income annually to safeguard assets.

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Wazirx Rolls Out Socialized Loss Strategy Across All Users Post $230M Cyberattack

DIGIT — Sat, 27 Jul 2024 14:05:22 +0000

Indian cryptocurrency exchange Wazirx is implementing a socialized loss strategy to distribute the impact of the recent $230 million cyberattack among all its users. The exchange stated that 55% of users’ crypto assets will be accessible, while the remaining 45% will be converted to USDT-equivalent tokens and locked. “The fastest way to open the platform […]

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Wazirx Claims INR Funds Unaffected by Cyberattack, Platform Secure

DIGIT — Tue, 23 Jul 2024 13:17:09 +0000

Indian crypto exchange Wazirx has provided an update on the recent cyberattack resulting in the theft of over $230 million. Wazirx co-founder Nischal Shetty stated that the exchange is exploring various strategies to restore platform deposits, withdrawals, and trading. He assured users that Indian rupee (INR) funds are secure and that efforts to recover the […]

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Wazirx: Withdrawals and Trading Paused for All Users, Over 80 Bounty Intents Received Within 24 Hours

DIGIT — Mon, 22 Jul 2024 14:16:50 +0000

Indian cryptocurrency exchange Wazirx is working to resume withdrawals after a major security breach compromised a multisig wallet, resulting in the theft of over $230 million. The exchange has paused deposits, withdrawals, and trading, and launched a $23 million bounty program to recover the stolen assets. Within 24 hours, Wazirx received over 80 intents for […]

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Wazirx Prepares Bounty Program to Recover $230 Million Stolen in Security Breach

DIGIT — Sat, 20 Jul 2024 16:46:09 +0000

Wazirx co-founder Nischal Shetty has updated the public on the $230 million security breach affecting the Indian crypto exchange. The Wazirx team is preparing a bounty program, engaging with expert teams to trace the stolen funds, and collaborating with other exchanges. “This is an unprecedented attack on one of the largest crypto exchanges in India. […]

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India Announces ‘Successful’ Crackdown on E-Nugget Scam — Seizes $10M in Crypto From Exchanges

DIGIT — Mon, 06 May 2024 01:26:11 +0000

India’s Enforcement Directorate has declared its multi-year crackdown on the “E-Nugget” scam in Kolkata successful. The operation has resulted in cash and crypto seizures, along with the arrest of the mastermind. Investigations uncovered numerous dummy accounts and led to the freezing of digital assets at various crypto exchanges, which were then transferred to the ED’s […]

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India working on 5-point crypto legislation as ban is ruled out

DIGIT — Mon, 11 Sep 2023 10:15:06 +0000

Indian crypto platforms could attain similar status as authorized dealers (similar to banks) under the guidelines of the Indian Central Bank RBI.

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India expands national payment network to Singapore: What’s in it for crypto?

DIGIT — Tue, 21 Feb 2023 09:31:36 +0000

One of the banking partners in the cross-border remittance service is also part of the government’s CBDC program.

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WazirX releases proof of reserves with majority of funds in Binance wallets

DIGIT — Wed, 11 Jan 2023 12:36:01 +0000

The cryptocurrency exchange released its proof of reserves and proclaimed to be India’s largest exchange both in volume and reserve funds.

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Indian authorities unfreeze millions in locked WazirX bank accounts

DIGIT — Mon, 12 Sep 2022 09:06:29 +0000

The Indian crypto exchange was under investigation by local authorities for money laundering allegations which caused a freeze on over $8.1 million in bank account funds.

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