WazirX Offers 85% of Stolen User Funds as Rebalancing Ends

Quick Summary:

Fund distribution will begin if creditors approve the plan, bringing partial money recovery for victims of the $230 million hack that hit the Indian crypto exchange in July.

North Korean hacking unit Lazarus is believed to be behind the attack, as CoinDesk previously reported.

Creditors now have until Feb.19 to accept the rebalancing under the current scheme, with a majority vote of 75% required for the plan to move forward.

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Article Details

Author / Journalist: Shaurya Malwa

Category: Crypto

Markets: United StatesCubaIndiaNorth KoreaSingapore

Topics: Markets Hack WazirX

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-11 @ 08:54:53 (17 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 279 words

Reading Time: 2 minutes read

Sentences: 24 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 26076856

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About CoinDesk

Main Topics: Crypto

Official Website: coindesk.com

Update Frequency: 20 posts per day

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News Last Updated: 9 hours ago

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Publisher ID: #8

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