News Explorer — CoinSwitch Sues WazirX to Recover $9 Million in Trapped Funds

Generated by AI, curated by humans

Aug 28, 11:08 am

Techcrunch

CoinSwitch Sues WazirX to Recover $9 Million in Trapped Funds

CoinSwitch, an Indian cryptocurrency exchange, is suing rival platform WazirX to recover trapped funds after a cyber attack resulted in $230 million worth of digital assets being stolen. CoinSwitch has around $9.65 million worth of assets stuck on WazirX's platform, representing about 2% of its total assets. The lawsuit highlights the challenges faced by India's cryptocurrency industry, including regulatory uncertainty and security concerns.

CoinSwitch, an Indian cryptocurrency exchange, is suing rival platform WazirX to recover trapped funds after a cyber attack resulted in $230 million worth of digital assets being stolen. CoinSwitch has around $9.65 million worth of assets stuck on WazirX's platform, representing about 2% of its total assets. The lawsuit highlights the challenges faced by India's cryptocurrency industry, including regulatory uncertainty and security concerns.

Latest

Oct 11, 8:49 pm

Decrypt

Avalanche Game 'Off the Grid' Tops Epic Store Chart

Off the Grid, an Avalanche-based battle royale shooter by Gunzilla Games, has quickly climbed the ranks on the Epic Game... Read Summary

Oct 11, 8:40 pm

Decrypt

Trump-Backed World Liberty Financial Reveals Token Sale

World Liberty Financial, an Ethereum-based DeFi project by Donald Trump's son, Eric, will launch its token sale next wee... Read Summary

Oct 11, 8:08 pm

Decrypt

S&P 500 Is Up 60% in Two Years—But Bitcoin Has Surged 220%

The S&P 500 reached a record high, marking a two-year bull market in U.S. equities. Bitcoin has surged 220% in the same... Read Summary

Oct 11, 6:46 pm

Coindesk

Trump-Backed World Liberty Financial to Launch Token Sale October 15

World Liberty Financial, a DeFi protocol backed by Donald Trump and family, plans to launch a token sale on October 15,... Read Summary

Oct 11, 6:20 pm

Decrypt

MicroStrategy Targets Trillion-Dollar Valuation as It Evolves Into 'Bitcoin Bank'

MicroStrategy, led by Michael Saylor, plans to evolve into a "Bitcoin bank" with a trillion-dollar valuation. The compan... Read Summary

Oct 11, 5:40 pm

Decrypt

Telegram Game 'X Empire' Sets Token Launch and Airdrop Date

X Empire, a tap-to-earn game with over 50 million players, will launch its X token on The Open Network on October 24. Th... Read Summary

Oct 11, 4:00 pm

Decrypt

Former FTX Exec Ryan Salame Must Report to Prison After Delay Request Denied

U.S. District Judge Lewis Kaplan ordered former FTX executive Ryan Salame to report to prison by 2pm ET Friday, question... Read Summary

Oct 11, 3:29 pm

Decrypt

Mt. Gox Delays Bitcoin Repayments, Boosting BTC Price

Mt. Gox, the former largest Bitcoin exchange, is now repaying customers after delays pushed the deadline to 2025. Bitcoin's price has risen above $62,200, possibly due to reduced sell pressure. Read Summary

Oct 11, 2:16 pm

Decrypt

Karate Combat Launching Layer-2 Network on Hedera

Karate Combat plans to launch a Hedera layer-2 network called UP in Q1 2025, allowing other sports and projects to use i... Read Summary

Oct 11, 12:10 pm

Decrypt

FTX Customer Sues Hedge Fund After He Sold Off Claim at a Discount

Nikolas Gierczyk, an FTX customer, is suing Olympus Peak for allegedly underpaying him after selling his claim at a disc... Read Summary

Oct 11, 11:33 am

Decrypt

Binance Executive Tigran Gambaryan Denied Bail Despite Deteriorating Health

Despite meeting all bail requirements on medical grounds, Binance executive Tigran Gambaryan has been denied bail due to... Read Summary

Oct 11, 10:38 am

Coindesk

Bitnomial Challenges SEC's Jurisdiction Over XRP Futures, Citing Regulatory Burden Concerns

Bitnomial has filed a lawsuit against the SEC, claiming the regulator exceeded its authority by trying to regulate an XR... Read Summary

Oct 11, 5:45 am

Decrypt

Former FTX Exec Ryan Salame Heads to Prison Posting Bizarre Farewell on LinkedIn

Ryan Salame, former FTX co-CEO, humorously announced his upcoming prison term on LinkedIn before starting a seven-and-a-... Read Summary

Oct 11, 5:08 am

Decrypt

Tokyo's Metaplanet Acquires More Bitcoin in October Spending Spree

Metaplanet Inc., a Tokyo-listed company, recently acquired an additional 108.999 Bitcoin for ¥1 billion, bringing its to... Read Summary

Oct 11, 1:59 am

Decrypt

SEC's Charges Against Cumberland DRW Have Done Little to Shift Prices. Here's Why

Despite the SEC charging Cumberland DRW with securities allegations, the crypto market remains relatively stable. Market... Read Summary