Crypto Change Wazirx has now taken a more serious turn on the cyber fraud of about ₹ 2,000 crore. On the one hand, Delhi’s Patiala House Court has said to hand over the investigation to CBI in view of the seriousness of the case, on the other side Wazirx Court Dockt Listening to not decided and Mortorium proceededAccording to the information, the Singapore court has not taken any decision on the repayment process and increased the mortorium till 6 June 2025. Thousands of Wazirx users will have to wait longer with this decision.
Delhi Court required CBI investigation
While hearing on 1 May 2025, Alternative Periods Pass Judgement of Patiala House Court said that this big cyber fraud of ₹ 2,000 crore should be handed over to a national agency like CBI.
The judge said:
“The matter is entitled to investigation by a Central Agency, seeing the nature of this case, its international influence, and the way of cyber fraud.” The court indicated that a syndicate or state -sponsored group may have a role behind this entire network, which could affect not only the industry but also economic security.
Wazirx Hack and the main accused
On 18 July 2023 Wazirx hack Hui, of which crypto assets worth $ 234 million (about ₹ 2,000 crore) were stolen. Investigation revealed that the multi-cignura wallets of the exchange were hacked and the user funds were transferred.
During the investigation, the name of a person named Sauvik Mandal was revealed, who is a resident of West Bengal. Mandal’s Wazirx Account was actually made in a fake manner in the name of SK Masood Alam, in which a crypto deposit of more than ₹ 91 lakh was found. Alam has been in judicial custody for the last 8 months and his bail petitions have been dismissed.
Hearing in Singapore Court, Mortorium increased till 6 June
In the hearing held in Singapore court on 13 May 2025, no final decision was taken on the repair plan submitted by Wazirx. The court has extended the Mortorium period (during which the company cannot repay its debt) to 6 June 2025.
Along with this, Wazirx has received an order to submit an additional affidavit by May 23, so that the court can review the validity and practicality of the repair plan. This means that until the court does not take the final decision, users will not be able to withdraw their trapped funds.
Increased disappointment for users
Thousands of users of Wazirx have been waiting for the return of their deposited capital for the last nearly a year. Although Wazirx says it is fully committed to users’ fund safety, court procedures and documentary demands are stopping the process repeatedly.
This decision of the Singapore Court has brought great disappointment for the users, as they will now have to wait at least till 6 June.
Conclusion
The ₹ 2,000 crore crypto fraud associated with Wazirx has now become a major example of international cybercrime, not just a hacking case. While the Delhi Court is moving towards handing over its investigation to the CBI, the delay in the repair process by the Singapore court is mentally and financially disturbing the users. It remains to be seen whether the action on 23 May and 6 June in the coming weeks will bring any relief in this matter or not.
