WazirX surprised users by initiating the second phase of its fiat currency withdrawal process ahead of schedule on Sept. 3, instead of the previously slated date of Sept. 9. This move comes following a major security breach that resulted in the theft of over $230 million in user assets. CEO Nishal Shetty announced the early
Exchanges
The recent court appearance of Tigran Gambaryan, a detained Binance executive facing money laundering charges in Nigeria, revealed a desperate plea for bail on medical grounds. His legal team emphasized his worsening health condition in prison as the primary reason for the application. Gambaryan’s health issues, which range from a herniated disc to bouts of
In August 2022, the decentralized exchanges (DEX) witnessed a decrease in spot trading volume, totaling $179 billion. This marked a 9% decline compared to the previous month. Ethereum reclaimed its position as the blockchain with the highest on-chain trading activity, with approximately $52 billion traded, accounting for 29% of the total volume. On the other
In a recent announcement, the Singaporean entity of the crypto exchange OKX, OKX SG, revealed that it has successfully obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore, as it grants businesses the ability to operate without daily or monthly transaction limits. To
Following the recent $235 million hack, WazirX co-founder and CEO Nischal Shetty has addressed growing concerns about the exchange’s operations and ownership. Shetty revealed that he is managing the exchange on behalf of the owners amid an ongoing dispute. He emphasized that he cannot disclose specific details about trades or reversals due to confidentiality obligations.
Former FTX executive Ryan Salame has decided to withdraw his petition to dismiss the indictment against Michelle Bond just days before a critical court hearing. Salame’s legal team informed Judge Lewis A. Kaplan of the Southern District of New York that the petition was being withdrawn “without prejudice” to allow Bond to address the matter
Cryptocurrency exchanges Binance and Bybit have recently teased the launch of new products related to Solana, hinting at a possible entry into the Solana liquid staking market. Binance’s official X account shared a mysterious message “BNSOL” followed by “coming soon,” while Bybit introduced a new product “bbSol” on its platform. The lack of specific details
The recent $234 million hack on the crypto platform WazirX has led to a series of legal battles and uncertainties. WazirX has now entered an initial 30-day moratorium as Zettai Pte, the company behind its operations, filed for it on August 27. This moratorium has triggered an automatic freeze, allowing the firm to draft a
Ryan Salame, a former FTX executive, is currently in the midst of a legal battle with the US government over his guilty plea. Salame claims that his plea was based on false promises made by prosecutors regarding their investigation into his partner Michelle Bond. However, the US Attorney’s Office has vehemently denied Salame’s allegations, stating
Indian cryptocurrency exchange WazirX recently stated that external parties not invested in the platform might attempt to prolong its restructuring process for their own benefit. These parties are said to be more focused on creating and maintaining “uncertainty” rather than actively seeking a resolution to the current situation. This revelation sheds light on the complexity
