WazirX Under Fire: CoinSwitch Exposes $75mn Mystery Transfer!
By Kapil Rajyaguru
In a shocking twist in the cryptocurrency saga, CoinSwitch CEO Ashish Singhal has fired a warning shot at WazirX, accusing the exchange of stealthily transferring $75 million worth of user funds to international platforms like Bybit and KuCoin without a whisper of warning to its users! This explosive revelation comes hot on the heels of a July 18, $235 mn cyberattack that rattled WazirX, leaving many users reeling and uncertain about their investments.
Singhal’s CoinSwitch isn’t just throwing accusations; they’ve launched a comprehensive dashboard to track these eyebrow-raising fund movements, offering users a rare glimpse into the murky waters of WazirX’s operations. It’s a bold move aimed at restoring transparency in an industry often clouded by confusion and mistrust.
But hold on—there’s more! WazirX’s recent court filing revealed a staggering 240,000 wallet addresses, a daunting pile of data that has left many Indian investors scratching their heads. With nearly 100,000 wallets reflecting balances under $10 and about 18,000 sitting empty, the question looms: where are the funds really going?
As CoinSwitch dives deeper, their findings suggest these hefty transfers to Bybit and KuCoin occurred right after the hack, raising eyebrows about the motives behind these swift moves. The exchange, now at the forefront of this transparency revolution, aims to shed light on the chaos, proving that when it comes to crypto, knowledge is power!
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