Key Takeaways
- WazirX has filed a police complaint after a $230 million hack.
- The exchange is working with CERT-In and law enforcement to recover stolen funds.
- WazirX plans to file a First Information Report (FIR) for further investigation.
Crypto exchange WazirX has filed a police complaint after suffering a $230 million hack on Thursday. The incident has been reported to the Indian Computer Emergency Response Team (CERT-In) for further investigation and assistance.
WazirX stated on X that they are collaborating with various exchanges, forensic experts, and law enforcement agencies to trace the stolen funds, recover customer assets, and conduct an in-depth analysis of the cyber attack.
They also plan to file a First Information Report (FIR), which could lead to increased scrutiny of their systems and security protocols.
Statement
In a statement, WazirX mentioned:
Many exchanges are cooperating with us. Our immediate plans include tracing the stolen funds, recovering customer assets, and conducting a deeper analysis of the cyber attack.
Joanna Cheng, Associate General Counsel at Fireblocks, emphasized the need for regulatory clarity in India, stating:
There is no crypto-specific regulation in India so far, and the industry would benefit from clear regulatory expectations on issues like security standards, risk management, and consumer protection.
Sumit Gupta, co-founder of CoinDCX, expressed support, saying:
We have reached out to WazirX to extend our support to their customers and are open to ideas and suggestions on how we could support them.
India’s Finance Ministry and crypto advocacy body, the Bharat Web3 Association, have yet to comment on the incident.
CERT-In and the Financial Intelligence Unit (FIU) have been notified, although the FIU’s role is limited to monitoring transactions under the Prevention of Money Laundering Act, and they have not commented on the breach.
