According to Deep Tide TechFlow, on December 19, as reported by Cryptoslate, 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 is influenced by allegations of hacking and financial misconduct.
Previously, 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 above instructions. The preliminary report from the Delhi police found the case unsubstantiated, but Judge Sanjeev Narula dismissed this investigation result and requested an update report to be submitted before February 2025.
This investigation highlights the ongoing skepticism regarding the operational integrity of WazirX. Cybersecurity company Cyfirma led part of the recovery efforts, but the exchange acknowledged that 43% of customer funds are still unrecoverable.
