Will WazirX return money?

WazirX, a prominent cryptocurrency exchange, has recently faced a cyber attack that has significantly impacted its customers. The aftermath of this incident has left many users concerned about the safety of their funds and the future of the platform.

As the cryptocurrency market continues to grow and evolve, exchanges like WazirX must prioritize security and take all necessary steps to protect their users' funds. This includes implementing advanced security protocols, regularly conducting security audits, and having a robust contingency plan in place to address potential threats.

In addition to these measures, users should also take responsibility for their own security by using strong passwords, enabling two-factor authentication, and being cautious when sharing personal information online. By working together, exchanges and users can help create a safer and more secure environment for cryptocurrency trading.

In response to the attack, WazirX has held a virtual press conference to address the situation and provide an update to its users. During the conference, the firm's advisor revealed that customers affected by the cyber attack will not be able to recover their full funds.

The advisor further elaborated that the company is currently exploring options to restructure and mitigate the damage caused by the attack. However, even with these efforts, the best-case scenario is that WazirX might be able to return 55-57 per cent of the stolen funds to its customers.