Indian cryptocurrency exchange WazirX is cooperating with government agencies, including the Financial Intelligence Unit, to address the fallout from a cyberattack that resulted in the theft of $235 million from its wallet in July, Moneycontrol reports, citing informed sources.
The exchange has provided authorities with detailed server logs, transaction traces, and blockchain addresses related to the hacking incident. WazirX is also actively engaging in discussions with regulatory bodies, although no physical assets have yet been seized.
The Financial Intelligence Unit has initiated a dialogue with other participants in the cryptocurrency sector to assess the consequences of this incident. This cyberattack has heightened concerns about the unregulated nature of the cryptocurrency industry and its impact on retail investors.
To restore user confidence, the exchange intends to publicly disclose its wallet addresses through court documents and establish a creditors' committee to oversee the restructuring. WazirX plans to return 52 to 55 percent of the remaining crypto assets to clients within six months.