CoinDCX, another prominent Indian cryptocurrency exchange, has informed its users that their assets are safe following WazirX’s recent cyberattack, which resulted in a large loss of user cash.
Sumit Gupta, the founder of CoinDCX, has confirmed on X that all user funds on its platform are secure. The exchange holds the majority of funds in its wallets, with only a small percentage allocated to partner exchanges.
CoinDCX’s commitment to transparency and robust risk management practices has been underscored by its proactive measures. The exchange has stated that it follows best-in-class practices for fund allocation and risk management, aiming to mitigate any potential impacts from third-party vulnerabilities.
CoinSwitch, another major Indian crypto exchange, has announced plans to pursue legal action against WazirX for the recovery of Rs 80 crore in funds invested on the compromised platform.Â
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