Bombay High Court Orders WazirX to Secure Funds for CoinSwitch in Landmark Decision

In a significant ruling, the Bombay High Court ordered Zanmai Labs, the operator of WazirX, to provide a $5.4 million bank guarantee for CoinSwitch following a major hack that impacted their assets. This decision sets a precedent for custodial accountability within India’s crypto industry. 💰 The court acted after WazirX was hit with a $234 million theft, and the order was issued on October 9, 2025, emphasizing Zanmai Labs’ responsibility over secured digital assets. The ruling could reshape the landscape of cryptocurrency regulations and investor confidence in India. ⚖️