Delhi High Court Seeks Clarification from ED and FIU on WazirX Hack
- Investor Jaivir Bains has filed a petition against WazirX in the Delhi High Court over a $230M hack.
- The Delhi High Court has issued notices to the FIU and ED regarding the investigation into the WazirX hack.
A Singapore court recently granted a four-month moratorium to Indian crypto exchange WazirX, giving the company time to restructure its operations without facing legal challenges. Meanwhile, on October 18, the Delhi High Court heard a petition from investor Jaivir Bains, who urged action against WazirX for merging funds after a massive hacking incident in July 2024. This hack led to the misappropriation of 2,000 crores (around $230 million) from WazirXs multi-signature wallet server.
According to the local news report, the petition urged the Delhi High Court to issue notices to Indias Enforcement Directorate (ED) and Financial Intelligence Unit (FIU) to investigate the WazirX hack. The court is also awaiting a status report from Delhi Polices IFSO unit on the incident. The case was presented before Justice Sanjeev Narula.
Further, the Delhi High Court noted that it cant directly order an investigation into the WazirX hack due to crypto being unregulated in India. However, the court has not yet issued a final decision or instructed any agencies to take action, and a detailed order is expected at a later date.
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Read more: https://thenewscrypto.com/delhi-high-court-seeks-clarification-from-ed-and-fiu-on-wazirx-hack/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
