Crypto Exchange WazirX Halts Open Orders, Cites Ongoing Issues Involving Indian Rupee

India's crypto exchange WazirX said Wednesday it has canceled all outstanding open orders on its platform as part of "ongoing efforts" to resolve issues involving the Indian rupee and crypto balances.

"Any INR and crypto assets blocked in these open orders will be added to your respective balances," WazirX said in a post to X.

It follows the exchange's $230 million hack in July, which saw hackers make off with $102 million worth of Shibu Inu tokens, $52 million in Ethereum, and $11.2 million worth of Polygon's native token Matic.

Other tokens lost in the theft included Pepe, USDT, and gaming blockchain Gala's native token of the same name.

At the time of its hack, the exchange said a cyber attack had occurred in one of its multi-sig wallets utilizing the services of digital asset custody and wallet infrastructure provider Liminal.

It's unclear whether the cancelation on Wednesday was part of issues pertaining to the theft in July. WazirX confirmed to Decrypt it was still working to resolve the issue.

The exchange did not respond to a request for comment on whether the incident on Wednesday and its July hack are linked.

The Mumbai-based firm touts itself as one of India's largest and fastest-growing crypto exchanges. It also claims to be the country's "most trusted Bitcoin and cryptocurrency exchange," according to its website.

Despite those reassurances, the exchange's native token, WazirX (WRX), has fallen 97% from its April 2021 all-time high of $5.88, CoinGecko data shows.

The token is trading 1.2% higher on the day despite Wednesday's developments and follows a 25% slump on July 19, from $0.16 to around $0.12, right around the time of the hack.