WazirX to Allow Rupee Withdrawals

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WazirX, the Indian cryptocurrency exchange that was the victim of a $230 million hack in July, has announced that it will resume allowing withdrawals in rupees.

This comes after the exchange froze withdrawals following the attack. In a statement released on Friday, WazirX shared that users will be able to withdraw up to 66% of their rupee balances in a phased manner over the next month, starting from Monday.

From August 26 to September 8, users can withdraw up to half of this limit, with the remaining amount available between September 9 and September 22.

The exchange clarified that its rupee-related operations, which are managed by Zanmai Labs, were unaffected by the hack and have enough reserves to cover the users’ balances. However, due to ongoing investigations by law enforcement agencies, 34% of the funds must still be held back.