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The $230 million crypto theft at Wazirx a wake-up call for Indian regulators, government
Time and again, the RBI has been cautioning investors on crypto currencies, calling it gambling. This market has been drawing more investors, despite India not having a regulatory framework on crypto. This scenario can’t continue
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Highlights
- WazirX faced a security breach, stopped withdrawals after reporting theft of digital assets worth $230 million.
- India’s RBI has been cautioning investors on Crypto
- India doesn’t have a national law on crypto yet
- The latest incident must act as a wakeup call for regulators, government
- Investors must exercise caution as there is no regulatory protection
On July 18, India’s biggest cryptocurrency exchange WazirX confirmed facing a security breach and temporarily stopped INR and crypto withdrawals, following alleged theft of digital assets worth
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