Stellar (xlm) 
Indian cryptocurrency exchange WazirX has paused deposits and withdrawals after noticing a surge in scam attempts targeting its users. The platform recently experienced a significant hacker attack, resulting in a loss of $235 million. WazirX has identified that impersonators are sending fake emails pretending to be from the exchange.
In a recent announcement, WazirX stated that deposits, withdrawals, and trading are temporarily halted for all users. The exchange emphasized the importance of being vigilant against these scams and advised users to double-check email IDs and avoid clicking on suspicious links.
Security Measures and User Safety
WazirX reassured its customers that it is actively monitoring and addressing these fraudulent activities. The platform is conducting thorough forensic data examinations and security audits to ensure the safety of its users. The exchange is working diligently to resume withdrawals and maintain a secure environment.
On July 18, WazirX fell victim to a hack orchestrated by the alleged North Korean hacking group, Lazarus Group. The hackers exploited on-chain manipulations to compromise the signatories of the exchange’s multisig wallet, resulting in the theft of multiple tokens.
Response to the Hack
Following the attack, WazirX co-founder Nischal Shetty announced a bounty program aimed at recovering or freezing the stolen funds. The exchange is committed to user safety and is taking all necessary steps to prevent future incidents.
“We’re conducting thorough forensic data examination and security audit procedures and working to enable withdrawals soon. User safety remains our top priority.”
Tips for Staying Safe
To protect yourself from scams and fraudulent activities, consider the following tips:
- Verify email IDs: Always double-check the sender’s email address to ensure it is from a legitimate source.
- Avoid suspicious links: Do not click on links from unknown or untrusted sources.
- Stay informed: Keep up-to-date with official announcements from WazirX and other trusted sources.
- Enable two-factor authentication: Use two-factor authentication (2FA) to add an extra layer of security to your account.
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