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We actively listen to your feedback and take decisive action to address your concerns.
After a thorough review of the situation and feedback from many users, we are forced to restore all account balances and cancel all trades on the WazirX platform on 18th July 2024 at 1:00 PM IST after withdrawals stop at 1:00 PM IST.
All users’ portfolio balances on the WazirX platform will be restored to what they were on July 18, 2024 at 1:00 PM IST. This recovery will take place over the next few days and affected users will receive an email.
This decision was not taken lightly and aims to protect the integrity of our platform and facilitate a fair outcome for users following the anomaly caused by the cyber attack on July 18, 2024.
Thank you for your patience and support as we work to get the platform back up and running and optimize results for users.
Questions
Below we have addressed some questions you may have.
Question. Why do trades become ineffective between July 18 and 21, 2024?
Answer: This action is being taken to ensure that all users are treated equally after the abnormality caused by the cyber attack on July 18, 2024.
Q: How will this decision affect my portfolio?
A. All trades after 13:00 on July 18, 2024 will become ineffective and your portfolio will be restored to what it was at that time. Fees and referrals resulting from such reinstatement will also be waived.
Question. What if I trade or deposit between July 18 and 21, 2024?
A: Any trade executed after 18 July 2024 at 1:00 PM IST will be void and associated fees and referrals will also be cancelled. Any fiat or crypto successfully deposited after 18 July 2024 13:00 IST has been acknowledged and will be addressed in future updates soon.
Question. How will I know that a portfolio reset has been applied to my account and how can I check the affected transactions?
Answer: Remediation will take place over the next few days and affected users will be sent an email with a consolidated list of affected transactions that can be verified on the WazirX platform.
H. Can I trade/withdraw while recovery is in progress?
A: Trades and withdrawals have been suspended and will not be processed during this time.
H. Will this reinstatement affect my tax returns?
A. TDS related to affected transactions will be refunded to affected users.
Question. What will happen to affected merchant fees and referrals?
A. Fees and referrals arising from affected transactions will also be refunded.
Question. How will the rollback affect current or pending transactions?
A. All current or pending trades will be canceled and your portfolio will be restored to what it was on July 18, 2024 at 1:00 PM IST.
Question. How will this affect my INR balances?
A: This reset will affect your INR balances to the extent you have made transactions involving INR on 18th July 2024 after 1:00 PM IST.
The reset exercise will apply to all trades and any crypto to INR or INR to crypto trades will be canceled and your portfolio balances will be restored to what they were on July 18, 2024 at 1:00 PM IST.
Question. How will this affect my crypto balances?
A: This reset will affect your crypto balances to the extent you have made crypto transactions after 18 July 2024 13:00 IST.
This reset exercise will be applied to all trades and any crypto-to-crypto or crypto-to-INR transactions will be reversed and your portfolio balances will be reset to what they were on July 18, 2024 at 1:00 PM IST.
We’ll continue to update this post with additional questions and answers as they arise. Thank you for your continued patience and support.
Disclaimer: Cryptocurrency is not legal tender and is currently unregulated. Please ensure that you carry out a sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information presented in this section does not represent any investment advice or the official position of WazirX. WazirX reserves the right, at its sole discretion, to modify or amend this blog post at any time and for any reason without prior notice.
