↑ WRX Coin weathers storm amid WazirX Hack and GST evasion controversy, maintains bullish outlook
Recently, a series of events has influenced the state of the WRX Coin and the Indian cryptocurrency exchange, WazirX . A massive hack led to...
The cryptocurrency, WRX Coin (WazirX), has undergone significant changes recently despite facing controversies including a hack scandal. The crypto faced a fall after the hack led to a steep fall in the prices of Bitcoin and Tether. The hack resulted in a drain of about $235M from WazirX, a renowned Indian exchange, resulting in a 15% plunge in WRX. However, routine maintenance was conducted with a shift of assets to a new multisig, marking potential withdrawal possibilities in the future.
Binance, another leading exchange, reportedly controls the WRX token as revealed after a prolonged feud. Meanwhile, the CEO of WazirX has teased about the launch of a native crypto by the exchange, contributing to an expected rise in market prices. Despite these significant changes, the coin remains volatile with large losses in its value due to the volatile meme coin.
There are essential aspects to be aware of regarding the 5th coin burn of WazirX and coin burning in general. Off-chain transfers to the crypto exchange have been unplugged by Binance, leaving several users in a limbo. Further, it has been reported that the exchange has been involved in evading Rs. 40 Crore GST, landing it under the scanner of taxmen.
Despite these concerns, WazirX continues to promise a bright future, with measures to compensate users and predictions of a potential price surge in the coming years. As a point of interest, the exchange has now allowed users to convert their crypto dust into WRX.
WRX Coin News Analytics from Mon, 29 Mar 2010 07:00:00 GMT to Thu, 05 Sep 2024 07:00:00 GMT - Rating -8 - Innovation 2 - Information 5 - Rumor -5