Supreme Court Wazirx hack A large petition has been rejected, which was filed by 54 users. Users filing the petition had alleged negligence in Wazirx’s co-founder Nischal Shetty and company management of cyber hack of ₹ 2000 crore and negligence in fund management of ₹ 4500 crore.
As soon as this petition was produced before the two member bench of Justice Br Gavai and Justice Augustine Masih, the court rejected it. The Supreme Court made it clear that it is not in the mood to consider this petition and asked the petitioners to take their complaints to the concerned government departments and let it be decided from there.
Justice Br Gavai commented, saying, “We are not interested to listen to this petition. Petitioners present the officials related to it and let them take the decision according to the law.”
Wazirx’s What were users demanded?
Wazirx Hack case now reached Supreme Court And this case has become one of India’s most controversial cryptocurrency case. Earlier, many Victims had also filed their complaints in the Delhi High Court. At the same time, Victims had three major demands in the petitions filed in the Supreme Court.
Special Investigation Team (SIT) be formed
Users Demanded to create a multi-agency SIT, which includes officials of RBI, SEBI, FIU, NIA, CBI and SFIO. The purpose of this team is to integrate the depth of Wazirx Hack and bring out the criminals.
Forensic audit
Users want an independent Financial Audit Team, the company’s accounts, laser and internal documents fulfill the entire investigation and this team should report directly to the Supreme Court, so that it can be clear whether the company deliberately negligent or has a criminal activity.
Asset safety
Users appealed that their portfolio should not be changed in any way, nor withdraw. He also demanded that the account of Wazirx and his directors be freeze immediately.
Many big institutions were made party in this petition, including-
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Liminal Custody Answers Pvt. Ltd.
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Government of India (Ministry of Finance)
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Reserve Bank of India (RBI)
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Sebi
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FIU
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Nia
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CBI
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Sfio
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Zanmai Labs (Wazirx Operating Company)
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Nischal Shetty (Wazirx’s co-founder)
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Binance holdings ltd., whose regional heads are Vishal Sachendran.
Conclusion
This decision of the Supreme Court is considered a shock for Crypto Users, especially for those who invested their hard -earned money in Wazirx. Although the court has rejected the petition, Victim can now expect relief from other regulatory agencies and the concerned authority. This case may have a significant impact on the regulation of cryptocurrency in India and the safety of investors in India.
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