- WazirX users outraged as asset recovery pushed beyond 2025 into 2026.
- Singapore Court demands deeper review before approving WazirX restructuring.
- Crypto community calls for external audits amid deepening WazirX trust crisis.
Public anger toward WazirX is building as the crypto exchange pushes a controversial restructuring plan that delays asset recovery timelines well into 2026.
Once hailed as India’s largest crypto platform, WazirX now faces intense scrutiny from users who accuse the company of locking their funds with minimal transparency or recourse.
User Frustration Mounts Over Extended Delays
The exchange is preparing to restart operations pending a ruling from Singapore’s High Court on May 13, a decision that will determine whether WazirX’s proposed restructuring and user compensation plan can proceed.
Meanwhile, users who once expected asset recoveries by mid-2025 now report receiving vague communications that push timelines into 2026. Many direct their frustration at WazirX co-founder Nischal Shetty, accusing him of misleading statements and broken promises.
“#NischalShetty lying to the WazirX users,” one viral post read, reflecting the community’s growing anger.
Related: WazirX Restructuring Nears Final Hurdle with May 13 Court Hearing Date
Adding further uncertainty, Singapore’s High Court has ordered Zettai — the entity overseeing WazirX’s restructuring — to clarify how U.S. tariffs have affected the value of assets held on the platform.
Calls for Audits and Stronger Oversight Grow Louder
Critics argue that WazirX’s restructuring appears designed to lock users into a long-term holding structure without their consent, rather than providing immediate restitution.
Related: India’s Top Court Dismisses WazirX Hack Petition on Regulatory Grounds
The controversy has reignited concerns over user asset security and governance standards on centralized crypto exchanges in India. As regulatory frameworks around crypto in India remain in flux, WazirX’s handling of the situation could either set a dangerous precedent or serve as a wake-up call for stronger protections in the sector.
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