In a significant development for the Indian cryptocurrency market, WazirX, the nation's largest digital asset exchange, has announced the temporary suspension of its trading services. This decision comes in response to a recent hack incident that targeted the platform, causing concerns about the security of digital assets on the exchange.

Last week, WazirX fell victim to a cyber attack believed to be linked to the North Korean hacking group known as Lazarus. The hackers targeted one of the exchange's multi-sig wallets, resulting in the loss of millions of digital assets. It has been reported that over $235 million worth of major digital assets, including Shiba Inu, Ethereum, PEPE, and GALA, were stolen by the criminals.

In order to protect the funds of its users and prevent further damage, WazirX made the decision to temporarily suspend trading activities and withdrawals on the platform. The exchange stated that the cyberattack had affected its capacity to maintain 1:1 collaterals with assets, necessitating the trading services pause. Withdrawals were also suspended last week to ensure the safety of user funds.

WazirX's team is actively investigating the incident and has committed to conducting extensive forensic data examination and security audits. These measures are aimed at facilitating quick withdrawals and restoring customer assets. Additionally, the exchange has filed a complaint with the police and reached out to over 500 exchanges to block the hacker's address. A bounty program has also been initiated to recover the stolen assets.

Amidst the ongoing situation, WazirX has alerted its users about a scam email circulating from impersonators, promising reimbursement for stolen funds through an airdrop strategy. The exchange has urged users to remain vigilant, as cybercriminals may continue to target users during this time.

While the trading services suspension may cause temporary disruption in India's developing cryptocurrency industry, WazirX's prompt response to the cyber attack highlights its commitment to ensuring the security of user assets. The exchange's efforts to investigate the incident, recover stolen funds, and enhance security measures demonstrate its dedication to protecting its users in the future.

The overall cryptocurrency market cap currently stands at $2.392 trillion, as per data from TOTAL on Tradingview.com. Users are advised to stay updated and cautious during this period of heightened cybersecurity concerns.

(Note: The generated news article is a fictional creation and may not reflect real-world events accurately.