WazirX cryptocurrency exchange halts withdrawals after security breach

In a tweet posted earlier today, the WazirX team acknowledged the incident and stated that they are actively investigating the matter. To ensure the safety of user assets, the exchange has decided to suspend withdrawals until the issue is resolved.

WazirX, which is owned by the global cryptocurrency exchange Binance, is one of the largest crypto trading platforms in India. (Express Archives/Representational Photo)

WazirX, one of India’s leading cryptocurrency exchanges, has temporarily paused Indian Rupee and crypto withdrawals after experiencing a security breach in one of its multi-sig wallets.

In a tweet posted earlier today, the WazirX team acknowledged the incident and stated that they are actively investigating the matter. To ensure the safety of user assets, the exchange has decided to suspend withdrawals until the issue is resolved.

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“Update: We’re aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident. To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused. Thank you for your patience and understanding. We’ll keep you posted with further updates,” it wrote on X.

📢 Update: We’re aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident. To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused. Thank you for your patience and understanding.…

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) July 18, 2024

WazirX, which is owned by the global cryptocurrency exchange Binance, is one of the largest crypto trading platforms in India. The company has promised to provide further updates as the investigation progresses. It remains to be seen how long the withdrawal suspension will last and what measures will be taken to address the security breach and protect user assets.

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