India’s largest crypto exchange absorbs $16 million loss from internal process failure tied to retired wallet
Summary
India's top cryptocurrency exchange has confirmed a financial hit of $16 million resulting from an internal operational error connected to an inactive digital wallet. Initially denying any unauthorized withdrawals, the Mumbai-based platform stated that it will cover the full deficit itself.
The Mumbai-based exchange initially dismissed reports of suspicious outflows as a false alarm. It now says it lost $16 million and will absorb the loss.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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