News with the tag "fund recovery"

In a bold move against cybercrime, cryptocurrency exchange Bybit has launched an innovative initiative to recover a staggering $1.5 billion stolen by the notorious North Korean hacking group, Lazarus Group. This isn’t just about reclaiming lost assets; it’s a powerful statement against digital theft...

The Digital Asset User Protection Foundation will be set up by the DAXA self-regulatory organization and receive support from financial authorities.

Indian cryptocurrency exchange Wazirx is implementing a socialized loss strategy to distribute the impact of the recent $230 million cyberattack among all its users. The exchange stated that 55% of users’ crypto assets will be accessible, while the remaining 45% will be converted to USDT-equivalent ...

Drawing lessons from past incidents such as the Mt. Gox and Bitfinex hacks, WazirX aims to apply the best practices from these cases to ensure a fair and efficient resolution.