WazirX halts trading, closes deposits following $235m attack

India-based cryptocurrency exchange WazirX has suspended deposits and withdrawals as scammers are targeting users of the platform.

Cryptocurrency exchange WazirX, which recently suffered a $235 million hacker attack, has suspended deposits and withdrawals after the platform noticed “fraudsters sending emails pretending to be WazirX.”

👋 tribe! Deposits, withdrawals and trading are currently paused for all users.

Beware of people impersonating us and scamming users. For more details, please see this post 👇

Stay informed and stay safe 🙏 https://t.co/5ifKBZkHy3

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) July 22, 2024

The exchange said in a X post on July 22 that it has stopped both services for all users, without specifying when they will resume. The Indian trading platform assured its customers that it is “actively monitoring and addressing these fraudulent activities”, urging customers to “double-check their email IDs and avoid clicking on suspicious links”.

The development comes just a day after WazirX suspended operations, saying the recent hacker attack had affected its ability to hold 1:1 collateral with assets.

“We are conducting extensive data forensics and security audit procedures and are working to enable withdrawals soon. User security remains our top priority.”

VizierX

WazirX lost approximately $235 million on July 18 after the alleged North Korean hacking group Lazarus Group used on-chain manipulations to compromise signatories of the exchange’s multi-signature wallet and exfiltrate multiple tokens. Following the attack, WazirX co-founder Nischal Shetty announced a bounty program to help the exchange recover or freeze the stolen funds.