The Indian Supreme Court has taken up a criminal writ petition filed by over 50 victims impacted by the ₹2,000 crore cyber hack on WazirX cryptocurrency exchange. The petition demands a criminal investigation into WazirX’s management and its co-founder Nischal Shetty for alleged negligence in handling public funds. This comes after the petitioners approached the Delhi High Court seeking intervention in this case.
The 54-petitioner group, all victims of the WazirX breach, will now present their claims before the bench of Justices BR Gavai and Augustine Masih on April 16th. The central government, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Financial Intelligence Unit (FIU)-India, National Investigative Agency (NIA), Central Bureau of Investigation (CBI), Serious Fraud Investigation Office, Zanmai Labs/WazirX, Nischal Shetty, Binance Holdings, and Liminal Custody are all listed as respondents.
The Supreme Court will hear arguments from the victims’ advocates, Priyanka Prakash, who are alleging gross negligence and mismanagement by WazirX, Binance, and Liminal Custody concerning public funds amounting to ₹4,500 crore in cryptocurrencies. This is a developing story, so please stay tuned for more updates at The Crypto Times.
Also read: WazirX Restructuring Nears: Court Date Set for May 13 in Singapore.