It’s been a tumultuous month for WazirX users, following the devastating cyberattack on July 18, 2024, which prompted the platform to suspend withdrawals and trading.

After weeks of intense efforts, the WazirX team has finally outlined a plan to address users’ pressing concerns regarding cryptocurrency and INR balances.

WazirX Confirms It Will Allow Users To Withdraw Upto 60% Of Their Indian Rupees

In a welcome move, WazirX will allow users to withdraw up to 66% of their Indian rupees starting Monday, marking a significant step towards recovery. However, the crypto community remains in limbo, as cryptocurrency withdrawals remain indefinitely frozen.

The platform has initiated phased INR withdrawals, but a substantial portion – around a third – of the funds remain locked due to ongoing disputes and investigations. Meanwhile, WazirX is pursuing a Singapore Scheme of Arrangement to resolve the distribution of crypto assets.

While this development brings some respite to users, the prolonged freeze on crypto withdrawals continues to cast a shadow over the platform’s recovery. As WazirX navigates this complex situation, users can only hope for a swift and equitable resolution to this saga.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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