The article discusses allegations made by a group of WazirX users that the devastating hack of the Indian crypto exchange in July 2024 may have been an inside job rather than an international cyberattack. The users point to a timeline of events leading up to the hack, including financial strain, regulatory scrutiny, and operational chaos, as evidence that the circumstances are too coincidental to ignore. The article also mentions discrepancies in WazirX's financial statements and the filing of a lawsuit by rival platform CoinSwitch. WazirX has introduced a plan to compensate creditors, but users are facing a 48% loss on their funds. The article concludes that the hack case remains shrouded in ambiguity and highlights the inadequacies of India's regulatory and legal systems in managing such crises effectively.



Other News from Today