In light of the recent $230 million hack of WazirX, India’s largest cryptocurrency exchange, there has been significant concern among SunCrypto users & general crypto users in the country. The hack involved the breach of WazirX’s multisign wallet, resulting in the transfer of $234.9 million to a new address, facilitated by Tornado Cash, a decentralized protocol for private transactions.
This incident has understandably generated fear and uncertainty within the Indian crypto market, with users of various exchanges worrying about the safety of their funds.
SunCrypto: A Safe Haven for Your Funds
SunCrypto, India’s leading crypto exchange with 1.5 million users, has stepped forward to reassure its users of the security of their funds. We want to emphasize that 85% of our users’ funds are stored in a cold multi-signature wallet with Ledger custody. Cold wallets are not connected to the internet, making them significantly less vulnerable to hacks.
In addition to secure storage, SunCrypto conducts regular funds audits to maintain a 1:1 ratio of reserves to liabilities. This ensures that every user’s funds are fully backed and can be withdrawn at any time. You can view our Proof of Reserves (PoR) and Proof of Liabilities (PoL) reports here: https://www.coingabbar.com/en/proof-of-reserve/suncrypto.
Insurance and Ongoing Security Measures
One unique feature that enhances the security of our users’ funds is the $150 million user fund insurance provided by Ledger. This insurance protects users’ funds under any circumstances, offering an additional layer of security and peace of mind.
Our technical team at SunCrypto works tirelessly to implement and maintain the highest security measures. This ongoing effort ensures that both the platform and users’ funds remain secure.
SunCrypto Founder Calms Users
In response to the WazirX incident, our founder and CEO, Mr. Umesh Kumar, took to his X account to address the situation. He tweeted:
“It is unfortunate to hear about the hack with WazirX. We would like to assure all our SunCrypto users that all your funds are safe. Suncrypto conducts regular audits to ensure 1:1 reserves and liabilities. Ledger is our custody partner and users’ funds are secured with $150 million insurance.”
Mr. Kumar’s timely message aims to reassure our users that their funds are secure with SunCrypto. His proactive approach to addressing the concerns of our users highlights our commitment to maintaining trust and transparency.
Conclusion: No Need to Panic
We understand that incidents like the WazirX hack can cause concern, but rest assured that your funds are safe with SunCrypto. With secure storage, regular audits, substantial insurance, and ongoing security measures, we are dedicated to providing a safe and reliable platform for all our users.
Please stay calm and continue to trust SunCrypto with your investments. Your security is our top priority, and we are committed to ensuring that your funds remain safe at all times. For more information, stay tuned with SunCrypto Academy.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you do your own research or consult an expert before making any investment decision.
I love Suncrypto. Thanks for the security concerns.
Few Questions:
A) What is max limit of sell I can do in a day.
B) Max limit of sell per trade.
C) Can I withdraw my amount in the bank all at a time or is there any limit to withdraw
Thank you Anurudh so much for your kind words and for being a valued user of SunCrypto! We truly appreciate your support and are glad to hear that our security measures meet your expectations.
Regarding your questions:
A) There is no maximum limit for selling in a day. You can sell as much as you need.
B) The maximum limit for each trade depends on the liquidity of the coin you are trading.
C) For withdrawals, the limit is ₹5,00,000 per transaction, with a total daily limit of ₹25,00,000. If you need higher limits, please let us know, and we can accommodate your request.
If you have any more questions or need further assistance, please visit our help centre or raise a ticket for personalised support https://help.suncrypto.in/support/solutions. We’re here to help!
Thank you once again for choosing SunCrypto.
Sir nxra treading will start again
Good
Best
Trade is disable of your account for some time
Dear user, we apologize for the inconvenience and appreciate your patience. Our technical team is working to resolve the issue so that your accounts are reactivated as soon as possible and normal trading resumes. Please refer to the article https://academy.suncrypto.in/technical-glitch-occur-on-suncrypto/ for detailed updates. Thank you for your understanding and support.
For further assistance, please connect with us or raise a ticket at https://help.suncrypto.in/support/solutions.
Deposit problem please call me
Please help me deposit problem
Is withdraw of coins allowed in your exchange
I appreciate suncrypto for fair business, but very often I find that app remains disturbed. Hope you will improve.
Thank you so much for your kind words and for being a valued user of SunCrypto! We truly appreciate your support and are glad to hear that our security measures meet your expectations. Our technical team is working continuously to enhance user experience.
As a valued user, For further assistance, please connect with us or raise a ticket at https://help.suncrypto.in/support/solutions.
I agree with what you say team. We got great information from you .you have kept our fund very secure .this is what we want for you …………….thanx sun crpto
Thank you so much for your kind words and for being a valued user of SunCrypto! We truly appreciate your support and are glad to hear that our security measures meet your expectations.
As a valued user, For further assistance, please connect with us or raise a ticket at https://help.suncrypto.in/support/solutions.
INR withdrawal is to slow so please fast
@Anmol Our technical team is working continuously to enhance user experience.
As a valued user, For further assistance, please connect with us or raise a ticket at https://help.suncrypto.in/support/solutions.
@GayadharGiri
Visit our official website at https://suncrypto.in
Visit “https://play.google.com/store/apps/details?id=com.suncrypto.in” to download our official app via Google Play Store & “https://apps.apple.com/in/app/suncrypto-trade-btc-crypto/id1593194276” for Apple App Store.
I love Suncrypto. Thanks for the security concerns.
Few Questions:
A) What is max limit of sell I can do in a day.
B) Max limit of sell per trade.
C) Can I withdraw my amount in the bank all at a time or is there any limit to withdraw
@LakhanAnilThorat Thank You for your kind words, Our team is working diligently towards enhancing your user experience.
To answer your queries:
Ans 1. There is no upper cap for selling at Suncrypto in a day, you can sell all your holdings in multiple sell orders.
Ans 2. Maximum Sell for each coin is different and is displayed when you sell. However, you can sell all of your holdings in multiple sell orders.
Ans 3. The withdrawal limit is set at 25 Lakh INR in a day. However, you can increase your withdrawal limit by writing to the SunCrypto support team and providing them with the necessary information.
For further assistance, please connect with us or raise a ticket at https://help.suncrypto.in/support/solutions.
The most important thing is to keep the users’ funds safe.
Dear Sun Crypto Team…thanks for the confirmation by CEO on the funds status. I can assume that >95% investors are in their 1st bull run for his / her dream from crypto and also to inspire others. However after WazirX we can’t trust anyone unless Suncrypto proves in this bull cycle. Success will be each investors are able to take out their profits w/o issue and there is no hack.
We all are looking forward on the same and Suncrypto must not be the social media attention like Wazir X and Bitbns where investors are losing their money. Since now Binance is now started operated in India, people will move there in case of failure to stick to what CEO mentioned
All of us, of crypto users of sunceypto exchange wants to higher protection of money… I like very much and thanks to your technical team to protect assest in faver of suncrypto users… Thankyou
@ShyamSunderSeth Thank You for your kind words, Our team is working diligently towards enhancing your user experience.
For further assistance, please connect with us or raise a ticket at https://help.suncrypto.in/support/solutions.
Suncrypto net my usdt lose many time i compoaint but didnot help
@nimi
Please connect through the below addresses stating your issue with any document (Ticket ID/previous mail/issue screenshot).
For further assistance, please connect with us at help@suncrypto.in or raise a ticket at https://help.suncrypto.in/support/solutions.
Sun crypto ka daily sell limit kitna hai
Dear User,
Users can sell an unlimited number of cryptocurrencies, with the time limit varying according to different cryptocurrencies on SunCrypto. There are no restrictions on the number of buy or sell transactions you can make in a day; you can trade as much as you want. However, there is a limit on the amount you can buy or sell in a single transaction, which is determined by the market’s volume and liquidity at the time.
Regards
Team SunCrypto