Fri Jan 17 17:14:58 UTC 2025: ## WazirX Freezes $3 Million in Stolen Assets After Record-Breaking Crypto Heist
**New Delhi, January 17, 2025** – WazirX, an Indian cryptocurrency exchange, announced today that it has successfully frozen $3 million in assets stolen during a massive cyberattack last July. The heist, the largest of its kind in India, saw over $230 million disappear from WazirX’s parent company, Zettai Pte. This latest development marks the first tranche of recovered funds.
In a statement, WazirX founder Nischal Shetty confirmed the freeze, emphasizing the company’s commitment to recovering all stolen funds. The platform is actively cooperating with law enforcement, forensic experts, and legal professionals to trace and retrieve the remaining assets. Zettai Pte. is also undergoing restructuring proceedings.
Jason Kardachi, Managing Director and Co-Head of Global Restructuring Practice at Kroll, stated that recovery efforts are progressing well, utilizing both on-chain forensic techniques and legal action against individuals involved in the theft and subsequent movement of funds. The aim is to maximize asset recovery for creditors under a proposed recovery scheme.
The July 2024 heist significantly impacted confidence in the Indian cryptocurrency market and triggered a review of security protocols across the industry. The ongoing recovery efforts offer a glimmer of hope for affected users, but the full extent of the eventual recovery remains uncertain.
First Piper 