ChainCatcher message, the Delhi High Court ordered a new investigation into the platform on December 18, the same day Binance announced it would delist the exchange's native token WRX. This investigation was prompted by allegations of a previous hacking incident and concerns over financial misconduct.
Earlier, lawyer Jaivir Bains submitted a petition calling for criminal charges against WazirX, accusing it of violations that occurred in July 2024, resulting in a loss of $235 million in cryptocurrency. The court subsequently issued the aforementioned directive. The Delhi police's preliminary report concluded that the case was not viable, but Judge Sanjeev Narula dismissed this finding and requested an updated status report to be submitted by February 2025.
This investigation highlights the ongoing skepticism regarding the operational integrity of WazirX. The cybersecurity firm Cyfirma led part of the recovery efforts, but the exchange acknowledged that 43% of customer funds remain unrecoverable.
