Supreme Court Takes Action in WazirX Cyber Hack Case

Over 50 users of the WazirX cryptocurrency exchange have filed a petition with India’s Supreme Court, seeking intervention in the ongoing cyber-security case. The petitioners are demanding immediate action from the court against co-founder Nischal Shetty and the exchange management regarding the alleged Rs 2,000 crore theft. They accuse Zanmai Labs, WazirX’s parent entity, of negligence and mismanagement resulting in the loss of over Rs 4,500 crore in cryptocurrencies. The two-judge bench headed by Justice BR Gavai and Justice Augustine Masih will hear the case on April 16th with Advocate Priyanka Prakash representing the affected users.