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by Kevin Helms

5 hours ago



WAZIRX FOUNDER DENIES REMAINING ASSETS ARE GONE, WARNS ABOUT NEW FAKE ACCOUNT
TREND




Wazirx co-founder Nischal Shetty has addressed concerns about the remaining
assets following the cyberattack, stating that misinformation has caused
unnecessary fear by suggesting these assets are also gone. He emphasized that
such claims are baseless and are made only to attract attention. He also
promised to share Wazirx’s Proof of Reserves (PoR) after a new custody provider
has been secured.


WAZIRX CO-FOUNDER ADDRESSES USER CONCERNS

Wazirx co-founder Nischal Shetty addressed concerns about the crypto exchange’s
response to the July 18 cyberattack in several posts on the social media
platform X Saturday. His statements come amid increasing anxiety over delayed
withdrawals and unanswered questions.

Shetty responded to a request for proof of reserve (POR) of the remaining
assets, acknowledging users’ concerns. He stated:

> Some people have misguided/scared everyone that remaining assets are gone too.
> They have no basis to say it except to get more attention from you.

“We had announced some time ago that unaffected tokens are being moved to new
wallets,” he stressed. “We’re also exploring new custody providers. Once we’ve
completed this, we will be able to share the POR. We will do this, but we’re
being careful in our approach. This process will take some time, but we will
share as soon as it’s completed.”



Shetty also warned about “Another new trend to be careful about.” He explained:

> If someone is supporting the prompt resolution then these fake accounts are
> targeting and stating they are Wazirx accounts which is not true at all.

In another post, Shetty discussed the importance of achieving a prompt
resolution, cautioning against being influenced by those without a stake in the
outcome who may be spreading misinformation. He noted, “Every week, we have
brought more clarity,” and promised that a complete plan for a token-related
solution would be presented soon, followed by AMAs to address any remaining
concerns. He urged users to focus on constructive solutions, stating: “Let’s
concentrate on finding solutions rather than perpetuating negativity.”

What are your thoughts on Wazirx’s response to the recent cyberattack and user
concerns? Let us know in the comments section below.

TAGS IN THIS STORY

Assets, Crypto, Cryptocurrency, custody provider, cyberattack, Exchange, Fear,
misinformation, Nischal Shetty, PoR, Proof of Reserves, Wazirx, Withdrawals




KEVIN HELMS

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an
evangelist ever since. His interests lie in Bitcoin security, open-source
systems, network effects and the intersection between economics and
cryptography.



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