You are here: Home / News / WazirX Outlines Roadmap: INR Withdrawals Set to Resume August 26
by Mishal Ali
Indian crypto exchange WazirX revealed its objectives to take on the dominating concerns associated to cryptocurrency and INR withdrawals after a cyberattack on 18th July2024 The occasion extremely interferedwith the platform’s operations, mandating a short-term freeze in withdrawal and traders’ activities as WazirX works on acquiring situational awareness and healing techniques.
The cyberattack exposed a shortage of ERC-20 tokens important for the resumption of cryptocurrency withdrawals which WazirX is attendingto by the Singapore Scheme of Arrangement. This legal structure is intended at guaranteeing that the circulation of cryptocurrency possessions is reasonable and user-approved.
Users will have their vote on the restructuring strategy, which, if authorized, will be binding. Thus, their interests will be safeguarded in the last resolution.
📢 Important Announcement About INR Withdrawals and Crypto Next Steps
The last month hasactually been a challenging time for users of the WazirX platform due to the cyberattack on 18 July 2024 and the subsequent suspension of withdrawals and trading to alleviate effect to the platform. We… pic.twitter.com/XdAr3V3TOp
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) August 23, 2024
In the interim, WazirX hasactually made development in fixing problems with INR balances. After mindful assessment, the business revealed that INR withdrawals will resume on August 26,2024 These withdrawals will takeplace in stages, with users atfirst able to withdraw up to roughly 66% of their INR balance.