
ramesh naikoti
@bitcoinsatoshi
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25 Followers
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Indian crypto exchange WazirX charts recovery path after $235M cyberattack
Indian cryptocurrency exchange WazirX, which suffered a $235 million cyberattack in July 2024, has announced a restructuring plan aimed at compensating affected users.
The exchange, reportedly targeted by North Korea’s Lazarus Group, has developed the plan under the supervision of Singapore’s legal system.
Zettai, the parent company managing WazirX, filed for a moratorium at the Singapore High Court in August 2024, proposing a restructuring plan under a Singapore Scheme of Arrangement.
A Singapore Scheme of Arrangement is a court-approved legal process companies can use to restructure their debts and liabilities. It allows a company to propose a binding arrangement with creditors, ensuring resolution while avoiding liquidation.
WazirX, in an affidavit shared with Cointelegraph, stated that it currently holds liquid assets amounting to $566.4 million USDt USDT $0.9995, exceeding the total claims of $546.5 million USDT 0 reply
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As the cryptocurrency market evolves, Bitcoin (BTC) remains the leader, but altcoins like Ethereum (ETH), Solana (SOL), Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Polygon (MATIC) show strong growth and technological potential. These projects offer unique solutions such as scalability, interoperability, and energy efficiency, making them prime opportunities for investors in 2024. Each presents significant growth prospects for both short- and long-term returns. 0 reply
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Crypto × AI: The Top AI Cryptocurrencies to Watch in 2024 According to MEXC
The intersection of cryptocurrency and artificial intelligence is no longer a distant vision—it’s happening now. Projects like $GOAT, $ACT, and $AI16Z have propelled AI Agent tokens into market prominence, highlighting a breakthrough in crypto and AI integration.
Top venture capital firms such as Y Combinator and a16z have recognized the immense potential in this convergence, predicting significant growth by 2025.
What Are AI Agents in Crypto?
AI agents are smart, autonomous systems that can perceive, learn, and make decisions. In the dynamic world of cryptocurrency, AI agents have emerged as pivotal catalysts of market innovation and efficiency. Far beyond mere algorithmic tools, these intelligent agents provide comprehensive, precise market insights and decision support for investors, financial institutions, and blockchain projects. 0 reply
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Binance, WazirX among crypto firms evading taxes in India, says gov’t
India has recovered $14 million in goods and services tax from crypto firms like WazirX, but Binance has yet to pay its $85 million tax evasion liabilities, the minister said.
The Indian government has detected a significant amount of unpaid goods and service taxes (GST) by major cryptocurrency exchanges, including Binance and WazirX.
India’s Minister of State for Finance, Pankaj Chaudhary, said the government has found 824 crore Indian rupees ($97 million) in GST in unpaid taxes by several crypto exchanges, The Economic Times reported on Dec. 3.
Authorities have reportedly initiated multiple related investigations into crypto exchanges, including WazirX, CoinDCX and CoinSwitch Kuber.
The report comes a few months after Indian law enforcement agencies demanded 722 crore Indian rupees ($85 million) in unpaid taxes from Binance in August. 0 reply
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