The cyber attack on Bybit on 21 February 2025 shook the entire crypto industry. There was a loss of about ₹ 1.5 billion (about ₹ 12,000 crore) in this attack, which is considered to be the biggest crypto hack ever. The incident occurred after Ben Zhou described Pi Coin as a scam. In which after telling Pi Coin as scam Ben zhou’s exchange bybit hack Done. Although most crypto exchanges have assured their users that their funds are safe after the incident, Wazirx has kept silence on the matter and has not yet come from Wazirx. Let us know in detail whether there is a big reason behind this silence of Wazirx.
Secret transfer of ₹ 606 crore from Bybit
Wazirx Hack in July 2024 Was, after a loss of ₹ 2,000 crore, users were having trouble with their amount. More than seven months have passed, but users’ withdrawal is still closed. During this time, Wazirx has not cleared anything yet. Surprisingly, now, after bybit Hack, Wazirx has transferred an amount of ₹ 606 crore from secretly bybit change. This amount was deposited on bybit at the time when bybit was not registered with India’s FIU (Monetary Knowledge Unit). A few weeks ago was registered in Bybit FIU, but now Wazirx has taken out this amount without any knowledge after hack.
On this, Crypto analyst Aditya Singh, while highlighting the matter on the social media platform “X”, said that “Wazirx has taken out the user funds from Bybit and what would have happened if the bybit had not covered the loss?” He also said that he was demanding from Nischal Shetty to Are Living Evidence of Reserve (Por), but he has been blocked and till date this information has not been publicized.
Wazirx’s silence and users mistrust
Bybit has normalized its services within two days after such a big hack and the CEO has confirmed with on-chain data that the operations have become normal. At the same time, users of Wazirx are still in the same position after seven months where they were in July 2024. Wazirx has neither issued any statement on this whole situation nor has taken any important steps.
Nischal Shetty, who was earlier in favor of decentralization, is now completely silent. He is now busy with Shardeum and Web3 projects, while Wazirx users are in darkness. Whenever users ask questions, they are blocked. This situation shows that Wazirx is ignoring the safety and trust of its users.
Conclusion
Wazirx has shown a serious negligence about its users’ funds after bybit hack. His silence and negative attitude only reveals his failure. While other exchanges have soon restored their services and assured users. Wazirx has ignored its users. This situation raises a big question whether Wazirx is committed to its users’ safety and transparency. If Wazirx has to get back its image and the trust of users, then he will have to take some concrete steps as soon as possible.
