{"id":838676,"date":"2024-07-30T09:48:43","date_gmt":"2024-07-30T04:18:43","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=838676"},"modified":"2024-07-30T09:56:11","modified_gmt":"2024-07-30T04:26:11","slug":"crypto-absurdity-wazirx-plan-to-socialise-losses-deeply-flawed","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/07\/30\/crypto-absurdity-wazirx-plan-to-socialise-losses-deeply-flawed\/","title":{"rendered":"Crypto absurdity: WazirX plan to socialise losses deeply flawed"},"content":{"rendered":"<p>In the brave and hazy world of cryptocurrency, a telling sign of the high risk for investors is the clause of \u201cforce majeure\u201d. WazirX, one of India\u2019s biggest crypto exchanges with a user base of over 16 million, proffered \u201cforce majeure\u201d \u2014 literally \u201cgreater force\u201d and related to an act of God \u2014 as an explanation after hackers wiped off $230 million (nearly Rs 2,000 crore) from its reserves when one of its multi-signature wallets was compromised earlier this month. Many crypto platforms include the clause in the terms and conditions,<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the brave and hazy world of cryptocurrency, a telling sign of the high risk for investors is the clause of \u201cforce majeure\u201d. WazirX, one of India\u2019s biggest crypto exchanges with a user base of over 16 million, proffered \u201cforce majeure\u201d \u2014 literally \u201cgreater force\u201d and related to an act of God \u2014 as an explanation after hackers wiped off $230 million (nearly Rs 2,000 crore) from its reserves when one of its multi-signature wallets was compromised earlier this month. Many crypto platforms include the clause in the terms and conditions,<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[63,4,12],"tags":[],"class_list":["post-838676","post","type-post","status-publish","format-standard","hentry","category-it-2-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/838676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=838676"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/838676\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=838676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=838676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=838676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}