Singapore Court Grants WazirX Four-Month Conditional Moratorium Following $230M Exploit

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Singapore Court Grants WazirX Four-Month Conditional Moratorium Following $230M Exploit A Singaporean court has granted WazirX, a leading Indian cryptocurrency exchange, a four-month conditional moratorium after the platform suffered over $230 million in losses due to a security exploit in July 2024, according to CoinDesk.

With strict conditions such as the disclosure of wallet addresses and financial records, WazirX is under pressure to provide transparency and accountability to its users.

Legal experts and advisers stressed that the exchange will likely need to focus on restructuring its operations and finding ways to compensate users, potentially through alternative means beyond returning the full value of lost cryptocurrency assets.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: IndiaSingapore

Topics: Latest News SINGAPORE

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-26 @ 05:43:11 (1 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 569 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 24 words per sentence (average)

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

Copyright Owner: © BitcoinWorld

News ID: 22716606

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About BitcoinWorld

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Official Website: bitcoinworld.co.in

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News Last Updated: 9 hours ago

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