WazirX

<p>Following the Rs 2000 crore hack of <a href="https://coinpedia.org/exchange/wazirx-bitcoin-exchange-india/" target="_blank" rel="noreferrer noopener">cryptocurrency exchange WazirX</a> the Delhi High Court has issued notices to India’s enforcement agencies Enforcement Directorate (ED) and the Financial Intelligence Unit ( FIU ). The court wants to know whether it can order an official investigation into the massive hack of WazirX and its management by a criminal.</p>   
<p>The High Court has also allowed users of WazirX to seek recovery of the funds in the civil courts in India since the hack in July. This decision is a relief to the 4.4 million users' cryptocurrency and INR balances which has been frozen by WazirX after they stopped all transactions in the wake of the attack.</p>   
<h2 class="wp-block-heading" id="h-legal-action-as-a-result-of-the-writ-petition"><strong>Legal action as a result of the Writ Petition</strong></h2>   
<p>This move comes after a writ petition by a WazirX client, <a href="https://delhihighcourt.nic.in/court/dhc_case_status_list_new?sno=3&amp;adv=ankit+bhatia&amp;cyear=2024" target="_blank" rel="noreferrer noopener nofollow">Jaivir Bains</a>, who sought to know how the huge hack happened. Bains also sought to address the fact that the exchange sought to externalise the losses by locking up 45% of users’ funds while considering the use of non-stolen currency to cover the impact made by the hackers.&nbsp;</p>   [post_titles_links postid="369060"]   
<h2 class="wp-block-heading" id="h-report-investigative-ordered"><strong>Report Investigative Ordered</strong></h2>   
<p>The Honorable Justice Sanjeev Narula who is hearing the case has ordered the IFSO unit of the Delhi police to file a status report on the present investigation. More details on the order were expected to have been posted by the court shortly.</p>   
<p>This case goes a long way in solving some of the security challenges associated with cryptocurrencies, particularly with the uncertainty that surrounds the exchanges in India.</p>

$230 WazirX Hack: Delhi High Court Issues Notices to Investigative Agencies

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