Wazirx founder denies asset loss and warns of fake account threats

Wazirx (CRYPTO:WRX) co-founder Nischal Shetty has responded to growing concerns about the status of the exchange’s remaining assets following a recent cyberattack.

In a series of posts on the social media platform X, Shetty sought to alleviate fears by debunking rumors that the assets have been lost, labeling these claims as unfounded and aimed at stirring unnecessary panic.

He stated, “Some people have misguided/scared everyone that remaining assets are gone too. They have no basis to say it except to get more attention from you.”

Recognising the anxiety among users due to delayed withdrawals and the demand for proof of reserves (PoR), Shetty reassured the community that Wazirx is actively working to secure the assets.

He confirmed that the exchange is in the process of transferring unaffected tokens to new wallets and is exploring new custody providers to safeguard these assets.

Shetty explained, “Once we’ve completed this, we will be able to share the PoR. We will do this, but we’re being careful in our approach. This process will take some time, but we will share as soon as it’s completed.”

Shetty also brought attention to a new issue: the rise of fake accounts impersonating Wazirx.

He cautioned users to stay vigilant, stating, “Another new trend to be careful about... these fake accounts are targeting and stating they are Wazirx accounts which is not true at all.”

This alert serves as a reminder for the community to remain cautious and avoid being deceived by these fraudulent accounts.

Beyond addressing these concerns, Shetty stressed the importance of focusing on constructive efforts rather than getting caught up in negativity and misinformation.

He committed to Wazirx continuing to provide updates and transparency, saying, “Every week, we have brought more clarity.”

He also promised that a comprehensive plan to resolve the token-related issues would be shared soon, followed by AMAs to address any remaining questions.

Shetty encouraged users to “concentrate on finding solutions rather than perpetuating negativity.”

Shetty’s statements aim to reassure the Wazirx community that the exchange is diligently working to secure their assets and resolve the current challenges.

At the time of reporting, the WazirX (WRX) price was $0.1547.