CryptoMediaClub
Friday, July 25, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

WazirX Redirected $74M in Crypto to Other Exchanges After Major Hack: CoinSwitch

22.10.2024
A A
0
121
VIEWS
ShareShare

CoinSwitch CEO Ashish Singhal has claimed WazirX transferred about $73.6m in users’ crypto to global exchanges Bybit and KuCoin following its major $234m cyber attack in July.

Singhal leveled the accusation on Monday, as CoinSwitch introduced a public dashboard to track wallet activities after WazirX’s recent wallet disclosure. WazirX, the hacked exchange, recently filed an affidavit with the Singapore High Court. It revealed over 240,000 wallet addresses as part of its debt restructuring efforts.

Singhal tweeted that CoinSwitch holds fiat and crypto with WazirX, but the exchange “illegally” halted withdrawals. So, CoinSwitch used its own treasury to cover users’ funds.

CoinSwitch’s Legal Dispute with WazirX Highlights $9M in Trapped Assets

CoinSwitch began legal action against WazirX in July, revealing over $9m in trapped funds.

Singhal noted that the affected funds account for less than 1% of CoinSwitch’s total assets. Nevertheless, the company has developed a dashboard to closely examine the wallet addresses.

Making sense of WazirX’s wallet disclosure for users
Crypto exchange WazirX — which allegedly faced a cyberattack in July 2024 — has released over 240,000 wallet addresses as part of an affidavit they filed in the High Court of Singapore.
These many wallet addresses can be… pic.twitter.com/QfaEmuQXUZ

— Ashish Singhal (@ashish343) October 21, 2024

“Now, we are making that dashboard publicly available in the hope that it will be of some help to crypto investors at large,” he said.

“By scanning through these wallets, we have observed a large chunk of Wazirx crypto has been moved to exchanges such as Bybit and Kucoin post the incident,” Singhal added. “As of now, we have identified the movement of $ 72.13 mn worth of crypto to Bybit and $1.5 mn funds to Kucoin.”

WazirX CEO Justifies Transfer, Denies Trading Use Amid Custodian Delays

WazirX CEO Nischal Shetty acknowledged the fund transfer to other exchanges. But he clarified that the movement was not for trading purposes.

“Funds were moved to some exchanges because we are still in the process of onboarding a custodian,” he said on X. “This process is taking longer than expected, we need to be thorough in our assessment and carefully explore all options.”

POR work is ongoing. Team is aiming to complete it asap so we can share it with everyone.
There have been false claims circulating that funds were moved to exchanges to trade!
Funds were moved to some exchanges because we are still in the process of onboarding a custodian. This…

— Nischal (Shardeum) 🔼 (@NischalShetty) October 22, 2024

Meanwhile, a WazirX spokesperson criticized CoinSwitch for launching a dashboard with WazirX’s wallet addresses, highlighting that CoinSwitch has yet to offer the same level of transparency about its own reserves.

“It shows how easy it is to build a dashboard but unfortunately [CoinSwitch Kuber] themselves haven’t built it for their customers who have been demanding for many years now,” the spokesperson told Cryptonews.

“So we would request CSK to first fix their own Proof of Reserves, make it real time and share all of their wallet addresses too along with a dashboard to make it easy for their customers. It’s time for everyone in the industry to move towards transparency and a real time POR is the best way forward.”

The post WazirX Redirected $74M in Crypto to Other Exchanges After Major Hack: CoinSwitch appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

Leading AI Claude Predicts the Price of XRP, Shiba Inu and Pi Coin by the End of 2025
All news

Leading AI Claude Predicts the Price of XRP, Shiba Inu and Pi Coin by the End of 2025

25.07.2025
0

Anthropic’s AI model, Claude, anticipates that multiple leading altcoins could achieve unprecedented highs in late 2025, propelled by Bitcoin’s formidable...

Read moreDetails
ChatGPT’s 42-Indicator BTC Analysis Flags Key $120K Test Amid Altseason Uncertainty

ChatGPT’s 42-Indicator BTC Analysis Flags Key $120K Test Amid Altseason Uncertainty

24.07.2025
Altcoin Season Returns: SHIB Climbs 15%, BONK 140%, and ADA Nears $1

Altcoin Season Returns: SHIB Climbs 15%, BONK 140%, and ADA Nears $1

24.07.2025
Pump.fun Accused of Running ‘Unlicensed Casino’ in $5.5B Class Action Lawsuit

Pump.fun Accused of Running ‘Unlicensed Casino’ in $5.5B Class Action Lawsuit

24.07.2025
Stablecoins Account for Less Than 1% of Global Money Flows

Stablecoins Account for Less Than 1% of Global Money Flows

24.07.2025
Load More
Next Post
Google Ad for Sony’s Soneium Blockchain is a Crypto Wallet Drainer, Warns Scam Sniffer

Google Ad for Sony’s Soneium Blockchain is a Crypto Wallet Drainer, Warns Scam Sniffer

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

US Stock Markets Rise: Unlocking Critical Insights for Crypto

US Stock Markets Rise: Unlocking Critical Insights for Crypto

1 month ago
$510 Million in Ethereum Longs at Risk Amid Potential Weekend Volatility – Massive Price Swing Incoming?

$510 Million in Ethereum Longs at Risk Amid Potential Weekend Volatility – Massive Price Swing Incoming?

1 year ago
Kraken Accuses CertiK’s White Hackers of Extortion and Stealing $3M

Kraken Accuses CertiK’s White Hackers of Extortion and Stealing $3M

1 year ago
Russia Recognizes Crypto as Property, Imposes New Tax Rules on Mining

Russia Recognizes Crypto as Property, Imposes New Tax Rules on Mining

8 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Altcoin Season Returns: SHIB Climbs 15%, BONK 140%, and ADA Nears $1

Lido faces three-year low in Ethereum staking market amid stETH depeg turmoil

Pump.fun Accused of Running ‘Unlicensed Casino’ in $5.5B Class Action Lawsuit

Institutions now hold over 10% of Bitcoin supply as demand outpaces BTC mining by 10x

Stablecoins Account for Less Than 1% of Global Money Flows

Pengu Price Prediction: Pudgy Penguins Token Blasts 433% – Next Dogecoin or Shiba Inu?

Trending

Leading AI Claude Predicts the Price of XRP, Shiba Inu and Pi Coin by the End of 2025
All news

Leading AI Claude Predicts the Price of XRP, Shiba Inu and Pi Coin by the End of 2025

25.07.2025
0

Anthropic’s AI model, Claude, anticipates that multiple leading altcoins could achieve unprecedented highs in late 2025, propelled...

MEXC finds that 67% of Gen Z crypto traders use AI tools, resulting in fewer panic sells

MEXC finds that 67% of Gen Z crypto traders use AI tools, resulting in fewer panic sells

25.07.2025
ChatGPT’s 42-Indicator BTC Analysis Flags Key $120K Test Amid Altseason Uncertainty

ChatGPT’s 42-Indicator BTC Analysis Flags Key $120K Test Amid Altseason Uncertainty

24.07.2025
Altcoin Season Returns: SHIB Climbs 15%, BONK 140%, and ADA Nears $1

Altcoin Season Returns: SHIB Climbs 15%, BONK 140%, and ADA Nears $1

24.07.2025
Lido faces three-year low in Ethereum staking market amid stETH depeg turmoil

Lido faces three-year low in Ethereum staking market amid stETH depeg turmoil

24.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz