WazirX Hack: Coinbase, Polygon Join India’s BWA Internal Groups For Probe
Release: 2024/07/31 18:04 Reading: 669
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=210251
In response to the recent $230 million WazirX hack, India's Bharat Web3 Association (BWA) is taking decisive steps to enhance cybersecurity and consumer protection within the crypto industry.
The BWA, chaired by Dilip Chenoy, has announced the formation of two new internal groups dedicated to these areas. These groups will include representatives from all BWA members, including WazirX, Coinbase, Polygon, CoinSwitch, Liminal, Biconomy, Tax Nodes, Giottus, and Hike. CoinDCX, WazirX's local rival, will also join the effort.
The groups aim to review and update existing consumer code guidelines while addressing current cybersecurity challenges.
On July 18, WazirX, India's largest crypto exchange, reported a loss of 45% of its holding assets following a hack of one of its multisig wallets. The attack, allegedly carried out by North Korea's Lazarus Group, resulted in the theft of various cryptocurrencies, including:
- $102 million in Shiba Inu (SHIB)
- $52.5 million in Ethereum (ETH)
- $11.24 million in Polygon (MATIC)
- $7.6 million in Pepe Coin (PEPE)
- $135 million in Tether (USDT)
- $3.5 million in Gala (GALA)
"The industry body has been monitoring the situation and has been in touch with both the members involved – WazirX and Liminal," BWA Chair Chenoy said, according to Moneycontrol. "We have asked both of them to do a complete forensic analysis and root cause analysis on the issue and evaluate the legal and remedial actions that can be taken post this incident."
Chenoy also mentioned that the BWA has suggested a third-party evaluation of the forensic report to ensure impartiality and thoroughness.
"We have agreed to create two groups to look at how to address such issues from both cybersecurity and consumer perspectives going forward," Chenoy stated. "They will be looking into this (WazirX) issue as well to come up with solutions."
Recent news
More>- Homosexual Pepe Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- BTFD Presale Captivates Investors in the Best New Meme Coin Presales for Significant Returns as PEPE and SPX6900 Dominate the Scene Fuel the... 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- The Metrics Pointing to Massive Potential for WIF, JASMY, and PEPE in 2025 01-01
- BTFD Coin’s Presale is Unmissable Amid Pepe and Moo Deng’s Crypto Hype: Best Meme Coin Presales to Join This Week 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Ahead of Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- Crypto Gems for the Next Quarter: Top 5 Tokens to Watch 01-01
- Why $PEPE Jumped 20% Today And Which Coin Could Be Next 01-01
- Best New Meme Coins to Join for Short Term: BTFD Raises $4.7M in Presale as BONK Boasts Low-Cost Transactions and PEPE Enjoys Steady Followi... 01-01
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Missed Pepe Unchained? Don’t Worry, This New Pepe-Themed Meme Coin Will Produce Bigger Gains in 2025
- 8 Top 4 Altcoins At 70% Discounts – Last Chance!
- 9 Smart $Pepe trader makes $11.7M profit during Market Drop
- 10 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com