- Acclaimed advocate calls on India’s CBI to arrest the WazirX CEO.
- Last year’s hack victims accuse WazirX’s CEO of fraud.
- WazirX received a court extension on the ongoing restructuring application.
An acclaimed advocate for crypto users affected by the WazirX crypto exchange hack from several months ago has called out the Indian Central Bureau of Investigation (CBI) for failing to arrest the WazirX CEO, Nischal Shetty. The acclaimed advocate, going by the title “Justice for WazirX Users” on X, seized the opportunity of a CBI announcement to register their complaint.
The CBI released a statement informing the public that it had arrested Satish Kumar Anand, a proclaimed offender in a bank-related fraud case. The CBI highlighted its efforts, including tracking the suspect to different locations before initiating the arrest.
Related: WazirX Moves Closer to Restructuring With Singapore Court’s Latest Approval
Meanwhile, the infuriated WazirX users’ advocate questioned the CBI’s approach towards their issue, considering the Bureau of Investigation has not taken the crypto exchange’s CEO into custody. The acclaimed advocate accused Shetty of fraud, alleging he has ruined millions of families without facing punitive actions from the CBI.
It is crucial to highlight the efforts reportedly taken by WazirX to resolve the ongoing situation, including a proposed compensation plan for users affected by last year’s vulnerability. A court in Singapore recently granted the crypto exchange an extension on a legal moratorium related to its proposed restructuring.
What Is the Status of WazirX?
According to a WazirX report, the court granted its request to present further arguments in its application for the court’s sanction of a proposed Scheme of Arrangement. The pending issue will cause WazirX users to continue waiting while expecting service resumption after the trading platform suspended services following an exploit attributed to North Korean hackers several months ago.
Related: WazirX Rebrands as Zensui and Moves Operations from Singapore to Panama
Several respondents, some of whom claimed to be victims of the July 18, 2024, exploit, supported the advocate’s view and called on the CBI to arrest Shetty and other WazirX executives. They expressed their dissatisfaction with the ongoing process and demanded more accountability from the handlers of the embattled cryptocurrency exchange.
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