WAZIRX News: The Supreme Court rejects a petition with more than 2000 CRYPTO HACK crown

On the main blow for crypto investors in India, the Supreme Court rejected the petition filed by 54 users of Wazirx exchange. These users hoped for emergency actions after the loss of their funds in mass cyber attacks in 2000 crorus. But the court said that he was not the right authority to solve this problem, and advised them to turn to the trade union government and financial regulators.

How did it all start?

Back in July 2024, Wazirx received a huge cyber -hack, where, as reported, about 2,000 crorus disappeared from users’ wallets. Since then, the injured investors have tried every legal path to get justice. At first they turned to the local courts and Delhi to the high court, but nothing came of it. The Supreme Court was considered their last hope, but this was also closed.

Many users believe that the WazirX leadership, including the co -founder of Nishal Shetti SHETTI niche Shetty niche is the founder of the largest and extremely reliable crypto platform -the exchange of India called WAZIRX. He is an entrepreneur who is passionate about technology, blockchain, cryptography and innovation. Wazir founded in 2018 with a mission to involve each Indian in the Blooming Blockchain revolution, created together with a team of passionate believers of blockchain and hard merchants. Currently, he also serves the Shardeum committee since February 2022, which is offended, infinitely scalable, fully controlled by the Blockchain 1 company. In 2010, the niche became the founder of Crownfire, which is a software development company based in Mumbai. Through the crowd, he helps people easily control their profiles on social networks around several platforms, attracting them into one and simple interface. The niche Shtti began his career life and headed the position of manager of software at 31 Infotech, developing virtual solutions in Java and related technologies. Taking into account that in January 2009 he founded TWI5, which is one of the stops to detect all the best applications on Twitter, and attracts thousands of visitors every day. In addition, he loves to share his opinion on technology, development and innovation. The niche Shtti was awarded awards and confessions, some of which include Forbes 30 to 30 years old, and the inspiring award of the Director General of ET. EntrepreneurDeveloper/ProgrammerDirector of the companyAuthor He was either careless, or, possibly, involved in incorrect handling of funds. Some even evaluate real damage to be closer to 4,500 crown. Adding to confusion is a constant dispute between WAZIRX and BINANCE about who actually owns and controls the exchange.

What did the Supreme Court say?

The Supreme Court Sanya, consisting of the justice of the Br Gavai and judge Augustine Masikh, ruled that she was not an appropriate forum for resolving issues related to cryptocurrencies. Since Crypto falls under state policy, the court said that petitioners should approach the Union of India and other bodies, such as RBI, Sebi and CBI instead.

Although the court allowed the victims to knock on the door of these authorities, he did not establish any new date of hearing or did not give clear instructions about what should happen next.

What were the victims asked?

Users asked for a special research group in which large financial and investigating authorities participated to study Wazirx and its activities. They also wanted the full audit of the company’s accounts and in order for WAZIRX assets to be frozen to stop further losses. But now none of these requirements is decided by the court.

What is happening now?

At the moment, the victims do not remain without a clear path forward. From almost 2000, the crore was still missing, and there were no firm lawsuits, users remains to wonder if they will ever return their money or whether the system remains simply not ready to consider such mass crypto -dies.