Cyber Heist Unveiled: The WazirX Saga Continues
A Shocking Breach
Remember last 12 months’s mind-boggling $234 million cyber breach at WazirX? The incident sent shockwaves through the crypto community when it was traced back to the infamous Lazarus Group from North Korea. In a bid to stem the chaos, WazirX needed to hit the brakes on all trading and withdrawals, leaving many investors biting their nails.
The Road to Recovery
Enter Zettai, the parent company of WazirX, with a recovery plan in hand. This plan, garnering a whopping 93% backing from creditors, appeared like a beacon of hope. However, the Singapore High Court wasn’t entirely convinced, citing transparency issues and initially rejecting the proposal in June. Talk a few plot twist!
Second Time’s the Charm?
Not ones to be easily deterred, the oldsters at Zettai went back to the drafting board, tweaking their proposal to deal with the court’s concerns. Their persistence paid off when the court agreed to a re-vote, slated to occur before September 16. Fingers crossed that this time, the plan sails through easily!
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