WazirX halts trading, closes deposits following $235m attack

Indian cryptocurrency exchange WazirX has ceased deposits and withdrawals as scammers appear to be targeting the platform’s users.

Cryptocurrency exchange WazirX, which recently suffered a $235 million hacker attack, has stopped processing deposits and withdrawals after the platform noticed “impersonators sending emails pretending to be WazirX.”

In a X post on July 22, the exchange said it had stopped processing both services for all users, without specifying when they would be resumed. The Indian trading platform reassured customers that it’s “actively monitoring and addressing these fraudulent activities,” urging customers to “double-check email IDs and avoid clicking on suspicious links.”

The development comes just a day after WazirX suspended trading, saying the recent hacker attack impacted its ability to maintain 1:1 collaterals with assets.

“We’re conducting thorough forensic data examination and security audit procedures and working to enable withdrawals soon. User safety remains our top priority.”

WazirX

WazirX lost nearly $235 million on Jul. 18 after the alleged North Korean hacking group Lazarus Group exploited on-chain manipulations to compromise the signatories of the exchange’s multisig wallet and siphon off multiple tokens. Following the attack, WazirX co-founder Nischal Shetty announced a bounty program to help the exchange recover or freeze the stolen funds.