WazirX Publishes Proof of Reserves Three Months After $230M Hack

• WazirX has published its first POR after a multimillion-dollar hack.
• The report captured millions held by the exchange on different chains.
• WazirX co-founder revealed the next plans after today’s development.

Crypto exchange WazirX has published an official Proof of Reserves (POR) report based on a snapshot taken on October 24, over three months after it was hacked for $234 million.

The development came barely three days after WazirX’s crypto custodian Liminal accused the exchange of engaging in an “ongoing disinformation campaign” to confuse users and legal authorities, a concern that CoinSwitch co-founder Ashish Singhal also shared in a fiery X post on October 21.

WazirX’s Proof of Reserves

In a statement on October 25, WazirX said it published the POR report to increase trust and transparency amid its ongoing plan of restructuring and restarting the exchange after it ceased operations on July 18.

Per the report , the exchange had $298.17 million in total assets as of October 24, of which $157.01 million was held on-chain and $126.91 million at third-party exchanges. Another $14.2 million was labeled as illiquid assets.

The funds were held in 242,000 crypto wallets spread across multiple blockchain networks, including Bitcoin ($77.39 million), Tron ($26.65 million), BNB Smart Chain ($22.35 million), Ethereum ($5.96 million), and others.

WazirX co-founder Nischal Shetty assured users that the POR would end “misinformation,” noting that third-party company Coingabbar would also publish its version of the report on its platform to bolster the exchange’s transparency efforts.

Shetty confirmed that WazirX held part of its remaining funds after the hack at three exchanges.

“We’re actively reaching out to the three exchanges where funds are held, asking for permission to display their names. If granted, we’ll share them openly. If not, we respect their choice. Regardless, Coingabbar will verify balances through their APIs, adding another layer of trust,” Shetty wrote on X.

According to the co-founder, WazirX is in the final stages of onboarding third-party custody providers to help secure the funds.

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