According to a report by Cryptoslate on December 19, deep tide TechFlow, 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 influenced by allegations of hacking and financial irregularities.
Previously, lawyer Jaivir Bains submitted a petition calling for criminal charges against WazirX, alleging violations that occurred in July 2024, resulting in a loss of $235 million in cryptocurrency. The court subsequently made the aforementioned directive. The preliminary report from the Delhi police deemed the case unsubstantiated, but Judge Sanjeev Narula dismissed this investigation's conclusion and requested an update report by February 2025.
This investigation highlights the ongoing skepticism towards the operational integrity of WazirX, with cybersecurity firm Cyfirma leading part of the recovery efforts, but the exchange admits that 43% of customer funds remain unrecoverable.
