Is there no way we can get it? I saw some notification saying they opened up withdrawals for few accounts.

Product Manager

about 40k lost , i consider it gone , no way they get it from north Korean hackers

Operations Engineer

Software Engineer

Software Developer

Wazirx went through a massive theft recently where a lot of coins were stolen. Wanna know How much grapeviners money is stuck.

Welcome to Indian Startups's Private Community

How much money you have lost or blocked in wazirx

How much money you have lost or blocked in wazirx- Grapevine

Welcome to News Discussion's Private Community

- WazirX customers unlikely to recover full funds after $234 million hack in July, says legal adviser.
- At least 43% of customer funds are unlikely to be recovered, with best case scenario being a return of 55% to 57%.
- WazirX seeks six months' protection from Singapore High Court while restructuring liabilities.
- Company in talks to share profit from revenue-generating products but no concrete details provided.
- Pressure mounts as CoinSwitch initiates legal action to recover $9.7 million worth of assets stuck on WazirX's platform. 

 Source: [Techcrunch](https://techcrunch.com/2024/09/02/customers-of-indian-crypto-exchange-wazirx-unlikely-to-recover-full-funds/)

WazirX Customers Face Major Losses After $230M Heist

Journalist

Welcome to Personal Finance's Private Community

Crypto experts need your take on below 
1) Best platform for crypto trading in India?
2) Best crypto to invest in? Ethereum is my best bet due to its underlying applicability. 
3) Is now a good time to invest in crypto?

Best platform for crypto trading in India

Which is the best crypto investment platform

- WazirX, one of India's largest cryptocurrency exchanges, has temporarily suspended all trading activities after losing about $230 million in a security breach.
- The cyber attack compromised WazirX's ability to maintain a 1:1 collateral ratio with assets, raising concerns about the adequacy of its reserves.
- Customer withdrawals were suspended after an attacker accessed one of the exchange's multi-signature wallets, which was protected by six signatories.
- WazirX announced a bounty program of up to $23 million to recover the stolen assets, with risk-management platform Elliptic linking the attacker to North Korea.
- The breach is significant, as WazirX reported holdings of about $500 million in its June proof-of-reserves disclosure, calling the event a 'force majeure.' 

 Source: Techcrunch, Moneycontrol

WazirX Halts Trading After $230 Million 'Force Majeure' Loss

Before people jump into validation mode, I thought let’s do something ulta (opposite)🙃

Pick one of your worst investment mistakes (it can be a stock, RE, ULIP, relationx blah blah) 

My inputs - During 2021/22 real estate boom, I picked a real estate stonk (india bulls) as I thought it’s a growing sector and company will become beneficiary after all the sins they have committed in past. Bam! Over next 5 months stock crashed ~50% 🥲

FriYaY is Investment day on GV!

I have been holding since 3 years now, had started putting money in the last bull run. How long are you guys holding. My personal take is i will exit at crypto when BTC reaches 100k $.

Post your crypto portfolios

What’s the biggest financial mistake you’ve made in your life so far?

Mistakes

Technical Writer

- CoinSwitch announced plans to take legal action against WazirX to recover 2% of its trapped funds.
- The company held INR 12.4 Cr and INR 28.7 Cr in ERC20 tokens, and INR 39.9 Cr in other tokens on WazirX.
- WazirX experienced a major security breach on July 18, leading to withdrawals of approximately $234.9 Mn.
- CoinSwitch claims WazirX has not responded to their queries, prompting the legal action.
- Inc42 has reached out to WazirX for comments and will update the story based on their response. 

 Source: [Inc42](https://inc42.com/buzz/coinswitch-to-file-lawsuit-against-wazirx-to-recover-stuck-funds/)

CoinSwitch To File Lawsuit Against WazirX To Recover Stuck Funds

- The FBI has reached out to WazirX to investigate the cyberattack, allegedly involving North Korean hackers, as the firm continues its recovery efforts."
- WazirX's proposed recovery strategy following a $230-million hack has been met with criticism from both customers and crypto influencers.
- The exchange revealed that 45% of its holding assets were lost in the breach, prompting a 55/45 approach to asset access and trading.
- Customers can vote on two proposed recovery options until August 3, but many find the 55/45 strategy unfair.
- Under the plan, 45% of remaining tokens will be converted to stablecoins (USDT) and locked, potentially reducing overall portfolio value.
- The exchange briefly restarted trading, allowing access to 55% of portfolio tokens regardless of whether assets were stolen. 

 Source: Moneycontrol, Techcrunch

WazirX Recovery Plan Faces Backlash After $230-Million Hack

So basically to make the losses to others ‘equitable’ I’ll only get 55% of my holdings?

Looks like WazirX is playing Robin Hood in reverse - stealing from everyone to give to... well, themselves probably.

What the fuck - how’s this legal?

Wtf is WazirX upto

Investor

Anonymous social media platform Grapevine has raised its seed round led by Peak XV Partners (formerly Sequoia India).

Exclusive: Peak XV acquires over 21% stake in Grapevine

Peak XV acquires 21% stake in Grapevine!

Anonymous platform 🫥

Corporate Strategist

Welcome to Product Managers's Private Community

Hey everyone, I am trying to get a referral for an APM role at CoinDCX. But it seems impossible through LinkedIn. I have been passionate about crypto for a long time and CoinDCX is probably one of the best in space. 
Would really appreciate it if anyone can help me with it! 
Thanks in advance!

Need a referral for CoinDCX | Help a guy out

- WazirX has **removed a YouTube video** where it promised to share 100% of future crypto price appreciation profits with users.
- The video featured George Gwee, director of Kroll, the legal entity managing WazirX's restructuring after a **$230 Mn breach**.
- The video's removal has caused frustration among users, especially after WazirX promised fairness in a Singapore court.
- In a second townhall, WazirX clarified they would not share past profits under the new restructuring scheme.
- This comes as WazirX plans to form a **Committee of Creditors** by October 9 to restructure its liabilities following the hack.

Source: [Inc42](https://inc42.com/buzz/wazirx-takes-down-video-promising-crypto-users-of-full-profits/)

WazirX Retracts Promise of 100% Crypto Profit Sharing

Hey Folks, I thought I should do an AMA specially after yesterday’s rumours that I have been laid off from Grapevine - this isn’t true 😂. It is however true that I have been PIPed and have a much reduced role now xD 

To be serious: Happy to answer any Grapevine questions that you may have. Features, ideas, questions on why we do what we do welcome - I’ll answer what I can! 

Cheers!

Micheal_Scott AMA

Founder

I used to use coinbase but they don't let you buy and no longer accept sign ups. What are my other reliable options.


Also thinking of buying a cold  storage wallet because "Not your keys, No your Coins".

Best exchange to buy crypto in india

Annoying re kyce every few months. 
And bastards have very specific requirements of doc uploads. U have to have original pan card with you and only take its photo. No existing screenshots or soft copies work.

Before this it happened twice.
Once because they would not verify an uploaded Aadhar card scanned copy. Kept saying they couldn't read it. Same thing worked everywhere else.

And before that they locked me out because of ProtonMail ban.

Some dude called satvik vishwanath built this louda platform tbh (sorry).

Is Unocoin the worst crypto platform ever?

Data engineer

- WazirX's parent company Zettai Pte filed moratorium application in Singapore High Court on August 27
- Move seeks 'breathing space' for restructuring liabilities under scheme of arrangement
- Application follows $234.9M crypto heist last month, representing 45% of user funds
- Company plans to allocate impact of cyberattack pro-rata across users as unsecured creditors
- WazirX expects at least six months to consider restructuring plan and work with stakeholders 

 Source: [Inc42](https://inc42.com/buzz/wazirx-files-moratorium-application-before-singapore-court)

WazirX Files for Moratorium in Singapore Court After $230M Hack

Welcome to Software Engineers's Private Community

How does 🍇 grapevine earn money 💰💰🤔

Grapevine 🍇🍷 🤑💰💰

I recently hit the 300 grapes mark. 
Not sure what is the value of these. Earlier i believe it would opened gates of personal DMs. 
Any suggestions?

How much money you have lost or blocked in wazirx

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