Nischal Shetty Defends WazirX Exchange By Responding to DMM Bitcoin Hack
WazirX CEO shared an FBI report on the DMM Bitcoin hack incident & indirectly claimed that WazirX faced a similar situation in the cyber attack.
WazirX was a top-ranked crypto trading exchange in the jurisdiction of India, but unfortunately, this exchange faced a hacking incident 5 months ago & lost nearly half of the customer’s funds. Till the date of the cyber attack, the exchange suspended all kinds of crypto services and currently, its leadership is working to get regulatory approval to restart the exchange again with an alternate approach.
In the latest development, WazirX CEO Nischal Shetty responded to the DMM Bitcoin hack incident and noted that the FBI’s report confirmed that the hack incident happened because the hackers successfully attacked the third-party wallet provider’s system.
By addressing this situation, Nischal indirectly said that WazirX also faced a similar incident, where the unknown hacker attacked the third-party crypto wallet custody service provider, but all blame was faced by the WazirX exchange.
Despite this information, the WazirX CEO faced criticism from the WazirX customers. The majority of the WazirX customers, who are eagerly waiting for the exchange to release customers’ funds back, asked Nischal to distribute the funds as soon as possible. Nischal responded & said that it would depend upon the “order” of creditors; if all the WazirX creditors (customers) vote in support of the restructuring scheme, then the WazirX team will be able to proceed with the scheme.
WazirX restructure scheme controversy
In the initial phase, when the WazirX leadership proposed a WazirX platform restructuring scheme, the majority of the people supported it, but later, many crypto influencers noted that the Exchange’s intention was only to make a favourable situation for the company’s benefit, not customers.
Many WazirX customers call the restructuring scheme a “scam”. Now, it will be interesting to see how the struggling situation will be over for customers as well as WazirX exchange, and customers will be able to get their funds back.
Read also: $Doge Rival Shiba Inu’s ($SHIB) Metaverse Project is Now Live with this Christmas
