WazirX Takes Legal Action After $230 Million Hack

WazirX, the cryptocurrency exchange, has officially filed a First Information Report (FIR) regarding the recent hack that resulted in substantial financial losses.

The exchange is actively working with authorities to address the incident and update users on their progress.

On August 5, WazirX confirmed that the FIR was registered under the BNS and IT Act at a New Delhi police station. The report follows an earlier complaint about the cyberattack on their multisig wallet, which led to the theft of over $230 million.

The exchange has reassured users that it is cooperating with law enforcement and other agencies to recover the stolen assets and bring those responsible to justice. In response to criticism, WazirX has abandoned its plan to distribute the financial losses among users and is focused on enhancing security measures.

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Following the FIR announcement, some users criticized the delay in filing the report, arguing it should have been done sooner. WazirX clarified that the initial complaint was made promptly after the hack and that the FIR process typically takes additional time. Nischall Shetty emphasized the exchange’s commitment to resolving the issue and recovering the stolen funds.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.