WazirX Resumes Operations After $234.9 Million Hack and Restructuring
- Operational Resumption: WazirX has resumed operations after completing a Singapore court-approved restructuring, marking a rare comeback following a shocking $234.9 million hack in July 2024, demonstrating resilience and recovery capabilities post-crisis.
- Ownership Dispute: Since its acquisition by Binance in 2019, WazirX has been embroiled in an ownership dispute with Binance, which denies holding any stake despite WazirX claiming to possess legal documents, leading to a prolonged litigation battle that has affected the company's reputation and operations.
- Risk Management Lessons: Founder Nischal Shetty noted that the past 15 months have been a profound learning experience, reshaping his understanding of risk, partnerships, and responsibility; despite the crisis, he views it as an opportunity for growth rather than regret.
- Community Trust Rebuilding: Following the hack, WazirX's relationship with Liminal Custody soured, with Shetty emphasizing that WazirX was the primary point of contact for users, and the company is now focused on rebuilding user trust to restore its position in the cryptocurrency market.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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