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The startup, backed by Coinbase and Peter Thiel’s Valar, says it saw about $200 million in withdrawals over three weeks. It might be insolvent.
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There’s no such thing as a free lunch, and Hamster Kombat players have had to learn this the hard way.
Since the $234 million hack in July, the blame game has shifted from WazirX to its wallet provider and even Binance. But it is users who are caught in the crossfire.
The crypto exchange, which faced a massive cyberattack earlier this month, has adopted a ‘socialized loss strategy’, much to its users’ chagrin.