The <a href="https://www.cryptoknowmics.com/news/wazirx-to-form-committee-of-creditors-after-230m-hack/" target="_blank" rel="noopener">WazirX</a> hack saga has taken a critical turn as the Delhi High Court mandated a fresh probe into the $235 million breach. The court intervened after the initial police investigation failed to uncover sufficient criminal evidence. The hack, reportedly linked to a North Korean hacking group, exploited platform vulnerabilities in July 2024.

Efforts to recover the stolen funds have been only partially successful, with 43% of the amount still untraceable. The investigation has spotlighted Masud Alam, a West Bengal resident arrested in November for allegedly facilitating the attack by selling a fake account through Telegram. However, the primary hacker remains at large, increasing pressure on law enforcement to deliver results.
<h3>Binance Delists WRX, Intensifying Challenges</h3>
[embed]https://twitter.com/WazirXIndia/status/1869278034769146040[/embed]

Coinciding with the court’s order, Binance announced its decision to delist WazirX’s native token, WRX, on December 25. Binance cited the exchange's failure to meet operational standards as the reason behind the move. Although Binance has repeatedly denied ownership of WazirX, the delisting has intensified market turmoil, with WRX’s value plummeting over 51%.
<h2>WazirX’s Plans for Recovery</h2>
Amid mounting challenges, WazirX has announced plans to relaunch its platform with a focus on improved services and transparency. The exchange is preparing for its 5th town hall meeting to outline its recovery strategy. WazirX envisions transforming into a new-age decentralized exchange (DEX), aiming to rebuild trust and regain market confidence.

As the investigation unfolds and WazirX works on a relaunch, the crypto community watches closely, awaiting resolution and signs of recovery.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

WazirX Faces Renewed Scrutiny Over $235M Hack, WRX Delisting

The WazirX hack saga has taken a critical turn as the Delhi High Court mandated a fresh probe into the $235 million breach.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

WazirX Faces Renewed Scrutiny Over $235M Hack, WRX Delisting

Top Picks