Crypto exchange WazirX cumulatively moved over $73 million worth of crypto to exchanges such as Bybit and Kucoin following a security breach on the platform, which led to a theft of $230 million, a senior executive from CoinSwitch, a rival crypto company, alleged on Monday.
WazirX, which is staring at liabilities worth $546.5 million, transferred $72.13 million worth of crypto to Bybit and $1.5 million funds to Kucoin, Ashish Singhal, co-founder and chief executive officer (CEO), CoinSwitch, said.
While WazirX did not deny the allegation in its official statement, it added that CoinSwitch should instead provide users real-time tracking of proof of reserves and wallet addresses.
CSK (CoinSwitch) has made a dashboard of our wallet addresses, but their users have been asking for CSK’s real time proof of reserve and all the wallet addresses of CSK and they have not provided anything where people can track in real-time. While we have gone ahead and done the same for tracking real time wallets of WazirX. It shows how easy it is to build a dashboard but unfortunately they themselves haven’t built it for their customers who have been demanding for many years now,” a WazirX spokesperson said in a statement.
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