The Delhi High Court demanded a fresh investigation in response to allegations of financial irregularities and a North Korean-linked hack.

Indian crypto exchange WazirX faces mounting challenges after the Delhi High Court ordered a fresh investigation into the platform on Dec. 18 — the same day Binance announced it would delist the exchange’s native token WRX.
The probe, spurred by allegations of a prior hack and concerns over financial irregularities, signals intensifying scrutiny on the beleaguered exchange.
The court’s directive came after Advocate Jaivir Bains filed a petition calling for criminal proceedings against WazirX in connection with a July 2024 breach that resulted in a loss of $235 million in crypto.
Initial reports from Delhi police concluded that no criminal case could be substantiated, but Justice Sanjeev Narula rejected the findings and required an updated status report by February 2025.
The investigation highlights lingering doubts about WazirX’s operational integrity, particularly in light of allegations that a North Korean hacking group orchestrated the breach. Despite a partial recovery effort led by cybersecurity firm Cyfirma, the exchange admitted that 43% of customer funds remain unrecoverable.
Binance delisting
The legal development comes as Binance announced it would delist WRX, citing a failure to meet compliance standards.
The delisting, effective Dec. 25, triggered a 59% drop in WRX’s value, reflecting eroded investor confidence. Binance has also denied ownership of WazirX, alleging the exchange is controlled by Zanmai Labs, which operates under the jurisdiction of India’s Financial Intelligence Unit.
While WazirX attempts to regain stability, including plans to relaunch its platform and introduce a decentralized exchange, critics have highlighted deficiencies in its crisis management and transparency. “The court’s move to demand a fresh probe reflects the severity of the allegations and raises questions about the future of WazirX,” said a legal analyst familiar with the case.
WazirX has pledged to rebuild with enhanced services, but the combination of regulatory scrutiny, financial losses, and market instability poses a formidable challenge for the once-prominent exchange.
#wazirX $WRX

The delisting of WRX from Binance is seen as a significant blow to the Indian exchange. The question remains: what steps will they take to turn the situation around?
Community Outrage as Binance Announces Delisting of WazirX (WRX)
On December 28, 2023, Binance announced its decision to delist WRX, the native token of WazirX, from its trading platform, effective January 5, 2025. This move comes amid WazirX's ongoing legal disputes and regulatory challenges in India, particularly regarding the conflict over ownership and legal accountability between Binance and WazirX.

WRX Token Plummets Over 50% Following Delisting Announcement
After the announcement, the price of WRX dropped sharply by over 50%. Prior to the delisting news, WRX was trading around $0.20, but within 24 hours, the price plunged to a low of $0.0932, reflecting market panic and a wave of sell-offs. Trading volume surged, tripling its daily average, as investors scrambled to exit their positions before the token's removal from Binance.

WRX Delisting Sparks Mixed Reactions Across Social Media
The decision to delist WRX has triggered significant debate within the community, especially on social platforms like X (formerly Twitter). Users have expressed disappointment and anger toward both Binance and the WazirX project.
Many investors criticized Binance for a lack of transparency, citing the insufficient preparation time provided to users before the announcement. Others have raised concerns about WazirX’s survival prospects following the event, particularly as user trust in the exchange has taken a substantial hit.

Community Questions Future of Similar Tokens, Demands Transparency from Binance
The delisting announcement has prompted the community to question the fate of other tokens in similar situations. Many are calling for greater clarity from Binance regarding the specific criteria and processes used for token delistings.
"I honestly don’t understand why Binance decided to delist WRX after previously claiming they had no connection to WazirX. This move only adds to the confusion among users." -- @iSandeepJaswal wrote on X --

Community responses also emphasized that this action could undermine user trust in Binance during similar events in the future.

Once a rising star in the Indian market, WazirX was considered one of the leading and fastest-growing cryptocurrency exchanges in India, playing a crucial role in popularizing cryptocurrency in a country with a population of over 1.3 billion people.

Founded in 2018, WazirX quickly established itself with the goal of addressing issues such as high transaction fees, slow processing speeds, and poor security. As a result, the exchange attracted millions of users and built a large investor community in India.
One of the most significant milestones for WazirX came in November 2019, when Binance announced the acquisition of WazirX. This was seen as a major turning point, allowing WazirX to connect with Binance's global ecosystem and offer advanced services to its users. Thanks to this acquisition, WazirX was able to integrate more deeply with Binance, enabling its users to transfer assets directly from WazirX to Binance.

The success of WazirX did not last forever. By 2022, the exchange began facing a series of legal disputes and allegations related to money laundering. On August 5, 2022, the Enforcement Directorate (ED) of India froze assets worth 64.67 crore rupees (approximately $8.1 million) belonging to WazirX.

According to the Enforcement Directorate (ED), the exchange was suspected of assisting fintech companies in converting funds from illegal activities into cryptocurrency and transferring them abroad through transactions on WazirX.
The investigation also revealed that some China-backed companies had used WazirX to conduct money laundering transactions. These funds were converted into cryptocurrency and moved overseas, making it difficult to trace their origin.
The situation escalated when the relationship between Binance and WazirX also became strained. Changpeng Zhao (CZ), CEO of Binance, stated that Binance had never truly owned WazirX, despite having previously announced an acquisition deal.

While WazirX was still facing money laundering allegations, in July 2024, the exchange became involved in a major hack. Hackers breached WazirX’s system and stole over $234.9 million worth of cryptocurrency from user accounts. This is considered one of the largest hacks in the history of cryptocurrency in India, sparking widespread criticism and calls for the restitution of assets to affected users.

WazirX had to undergo system maintenance and conduct security checks for several days. The exchange announced that it would restore user account balances to their state before the hack and reverse any transactions made after the attack.
Once one of the leading exchanges in India, WazirX has now found itself caught in an ongoing crisis. After money laundering allegations, disputes with Binance, and a major hack, WazirX has gradually lost its position in the market. Trading volumes have sharply declined, some major partners have withdrawn from the platform, and investor confidence has collapsed.
Is this the end for WazirX, especially after Binance has firmly distanced itself?
$WRX
#Market_Update #DelistingUpdate #DelistingNotice #wazirX

The crypto world is buzzing after WazirX’s native token, WRX, suffered a shocking 56% drop in a single day! For a token once hailed as a major player in the Indian crypto space, this sudden crash has left investors scrambling for answers. Let’s dive into what might have caused this plunge and what it means for the future.
The WRX Crash 🤯 What Went Wrong? ❓💔
1. Regulatory Pressure in India 🏛️⚠️
WazirX has been under scrutiny due to increased regulatory oversight in India. Uncertainty around crypto laws and ongoing investigations into exchanges may have spooked investors, triggering a massive sell-off.
2. Market Sentiment Turns Sour 📉🌪️
Crypto markets are notorious for being sentiment-driven. Negative news or fear among investors can create a domino effect, leading to sharp price declines.
3. Lack of Confidence in Utility 🔍💡
Some analysts suggest that WRX might be struggling to prove its long-term utility. If users don’t see enough value in holding the token, they’re likely to dump it during uncertain times.

👇👇👇
$WRX
How Did Investors React? 😨📊
Panic selling ensued as WRX holders rushed to minimize their losses. Trading volumes spiked, and the token hit lows not seen in months. Social media was ablaze with reactions, ranging from frustration to outright fear.
Can WRX Recover? 🌈🐦
Optimistic Scenario 🚀✨
If WazirX addresses regulatory concerns and enhances the token’s utility, WRX could bounce back. Positive market sentiment and a clearer roadmap might restore investor confidence.
The Risk of Further Decline 🛑💣
Without significant changes or announcements from WazirX, WRX might struggle to regain its previous value. Continued regulatory challenges could keep the token under pressure.
What Should Investors Do? 🤔💼
Stay Informed 📰📖 Keep an eye on WazirX’s updates and regulatory developments.
Diversify Portfolio 💰🌐 Avoid putting all your eggs in one basket, especially in volatile markets.
Assess Risk Tolerance 🔍⚖️Only invest what you can afford to lose.

Final Thoughts... Lessons from the WRX Crash 🐢📚
The sudden drop in WRX’s value highlights the unpredictable nature of crypto markets. While this crash is a wake-up call for some, it also underscores the importance of careful investment strategies.
Whether WRX can rise from the ashes remains to be seen, but one thing is clear. The crypto world never has a dull moment! Stay tuned and tread wisely. 🌟🐾
#wazirX #FallingWedge #DIP #buythedip #SuperMacho

$WRX
🌟 Current Price: $0.2687
📈 24h Change: +6.25% 🔥
💸 Market Cap: $102.60M
💥 24h Trading Volume: $26.35M
🌍 Market Dominance: 0.00%

WazirX (WRX) is making waves with a 6.25% rise in the last 24 hours! Despite its small market dominance, the $26.35M trading volume shows significant investor activity, highlighting the increasing demand for this asset. 🚀

🔮 Short-Term Price Forecast (Next 3-5 Days):

📉 Support Levels: $0.25 - $0.26
📈 Resistance Targets: $0.28 → $0.30

As WRX continues to gain strength, we could see it testing the $0.30 resistance level in the coming days. A breakout above $0.30 could open the door for further gains toward $0.35! 🌟

📅 Mid-Term Outlook (1 Week):

If the bullish trend holds and market conditions remain favorable, WRX might reach $0.35 - $0.40. The key to this upward momentum lies in continued market sentiment and overall crypto market growth. 📊🚀

🔥 Trending Hashtags:
#WazirX #WRX #CryptoNewss #Altcoin

The controversial WazirX hack that resulted in the theft of $235 million in crypto sparked discussion about security in the industry. Affected users are demanding robust measures as they are missing out on the selling opportunity amid the bull run.
A $200 million fund movement from Binance and WazirX wallets had the crypto world buzzing. Some are suggesting that the world’s biggest crypto exchange might be stepping up to reimburse WazirX users. However, the hacked Indian crypto exchange has temporarily halted withdrawals and seems to be cooperating with authorities.
Binance bailout or routine rebalancing?
An on-chain Sleuth in an X post flagged $200 million moving to a wallet allegedly controlled by WazirX. This move has sparked theories of what might be a Binance-led bailout. In this pursuit, one user speculated a potential reimbursement deal and suggested “Funding from Binance, likely for equity or token-based compensation.” Others placed 95% odds on a reimbursement announcement.
The on-chain investigator mentioned that WazirX consolidated user funds that were untouched during the hack into a wallet two months ago. The funds were shifted from the deposit addresses and hot wallets. It added that the same wallet (labeled 0x305) received $200 million in different tokens from the wallet 0xb03 which was funded by Binance wallets.
Squashing all the anticipation and brewing all the conspiracy theories, the hacked exchange posted an asset rebalancing reminder. It highlighted that the exchange is in the process of rebalancing tokens. It added that the users might notice fund movement transactions of various cold wallets.

WazirX stated that a temporary consolidation of assets is one of the necessary steps taken before final allocations to secure cold wallets. It urged that once the rebalancing and wallet management efforts are complete, it will share a list of all cold wallets with all the respective tokens held.
$WRX
$BNB
#WazirX
#BinanceSquareFamily