WazirX Resumes Operations After $234.9 Million Hack, Completes Court-Approved Restructuring
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Successful Restructuring: WazirX has resumed operations after completing a Singapore court-approved restructuring following a $234.9 million hack, marking a significant recovery and restoration of market confidence post-crisis.
- Learning and Growth: Founder Nischal Shetty emphasized that the past 15 months have been a profound learning experience, reshaping his decision-making in risk management and partnerships, thereby enhancing the company's operational capabilities.
- Choosing Stable Partners: Shetty noted that WazirX opted for the well-established crypto custody provider BitGo to ensure user fund security, reflecting the company's commitment to reliability in the financial services sector.
- Avoiding Repeated Mistakes: Shetty stressed the importance of learning from past experiences, stating that the company is actively applying lessons learned to avoid future errors, thereby enhancing user trust and promoting sustainable business growth.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
