India’s High Court has issued a landmark ruling that could significantly impact the handling of user claims following security breaches in the cryptocurrency industry. The decision underscores the growing legal recognition of digital assets and highlights the evolving regulatory landscape amidst recent high-profile hacks. Following a major cyberattack linked to the WazirX exchange in 2024, which resulted in an estimated loss of $235 million in crypto assets, the court ordered the exchange’s operator, Zanmai Lab, to provide a bank guarantee of approximately $11,800 as part of ongoing arbitration over XRP holdings. The ruling was delivered following a lengthy legal process with significant implications for how cryptocurrency exchanges will handle user claims and security breaches.