A group of thirty victims of the $235 million hack on crypto exchange WazirX are preparing to file a class-action lawsuit against the exchange. The victims, who are seeking to recover crypto assets worth over INR 5 crores (around $600,000), argue that WazirX acted outside of its legal boundaries. The lawsuit hinges on the claim that the exchange's agreement with users was with its Indian entity, and not its parent company in Singapore. The exchange had previously filed for a Scheme of Arrangement in Singapore, securing a four-month moratorium against any legal claims. The victims' lawyer argues that the exchange's decision to file for asset restructuring in Singapore was not legally justified. WazirX has faced significant scrutiny and legal challenges in recent years, with two other cases filed against the exchange in the Delhi High Court. India's Financial Intelligence Unit is reportedly investigating WazirX, and a separate group of 11 users plan to pursue legal action once the moratorium has expired.
- Content Editor ( crypto.news )
- 2024-10-26
Victims to sue WazirX over $235m hack in class-action lawsuit