The Wazirx Indian crypto-tank announced that 43% of customers lost during the recent cyber attack would probably not be able to return. Representatives of the company reported that the exchange is undergoing a restructuring process, which can take up to 6 months. Discussions are also ongoing regarding the possibilities of attracting investments and cooperation with new partners to overcome the crisis.
Estimates suggest that about 55-57% of the current assets of the exchange will be required for restructuring. In cryptocurrency terms, this means that part of the funds can potentially be returned to users through the restructuring. This decision has stirred up controversy within the local cryptocurrency community.
The main focus will be on creating new sources of income, recovering stolen assets, and expediting fund withdrawals for customers in need of immediate access to their finances. Users who agree to participate in the restructuring process can expect higher payouts, according to the company.
The cyberattack on WAZIRX resulted in the loss of over $230 million stored in one of the company’s multi-signature wallets. The exchange revealed that the wallet was managed using the digital asset storage infrastructure of Liminal.
During the initial investigation, it was discovered that the attack might have been caused by “the discrepancy between the data shown on the Liminal interface and the actual transaction content.” The North Korean group Lazarus is suspected to be behind the attack.
Regarding potential legal action against Binance and Liminal, whose systems were allegedly compromised, Wazirx representatives did not provide specific answers. However, negotiations are underway with a potential investor willing to offer financial assistance. It was clarified that capital would not be raised through the sale of a stake in the company due to an ongoing dispute with Binance.