WazirX, one of India’s leading cryptocurrency exchanges, has halted withdrawals and reversed recent trades following a significant system glitch. The exchange’s decision comes after users reported issues with their accounts and transactions, prompting immediate action to address the situation.
The technical malfunction affected several aspects of the platform, leading to discrepancies in trade executions and account balances. In response, WazirX temporarily suspended all withdrawal requests to prevent further complications and mitigate potential financial losses for users.
The exchange has been working to resolve the technical issues and is conducting a thorough investigation to understand the root cause of the glitch. WazirX has assured users that they are actively working to restore normal operations and secure all affected accounts.
The incident underscores the challenges faced by cryptocurrency exchanges in maintaining system stability and security. WazirX’s swift action to halt withdrawals and reverse trades aims to protect its users and restore trust in the platform. Further updates will be provided as the situation develops and resolutions are implemented.
