“Bull Run is Here, But Where is Our Money?” Ask WazirX User

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As an analyst with over two decades of experience in the financial markets, I have seen my fair share of turbulent times and market dynamics. The current situation at WazirX is particularly distressing, not just because of the soaring Bitcoin prices that users are missing out on, but also due to the frustration and anger that seem to be mounting among its user base.

With Bitcoin reaching a high of $71,000, users of the WazirX platform have been vocalizing their discontent on social media platforms, airing their grievances about frozen funds and the perceived absence of updates or communication from WazirX’s founder, Nischal Shetty.

Notable cryptocurrency figures and ordinary users on Twitter have voiced their dissatisfaction and frustration with the WazirX team and regulatory actions, claiming they’ve been excluded from earnings because of limited access to funds.

India’s Crypto made a straightforward statement with their tweet, saying “The bull market has begun! But where is Mr. Nischal?” This underscores the growing discontent among users due to the founder’s absence amidst their funds being unreachable.

Users like AmolJagde have publicly disclosed their hardships, detailing problems such as a 45% reduction in assets, unpaid medical expenses, and missing opportunities during the bull market’s surge. He expressed frustration by stating, “Our founder pays no heed to us, and our government seems indifferent too,” highlighting the sense of neglect and absence of help for WazirX users.

Meanwhile, BudhilVyas expressed his concerns over the unclear regulations in cryptocurrency, posting on Twitter, “The WazirX saga persists, yet the Indian government remains uncertain about crypto. The millions of Indian traders deserve clearer guidelines.

He tagged government officials, asking, “Where’s the user protection?” He shared an image of the Supreme Court with a “We Need HELP!” sign, symbolizing users’ cries for government intervention.

In simpler terms, the user @Vinit925 joined the conversation, expressing concern over the lack of implementation of promised actions such as a voting system and court approval. The user asked, “NischalShetty, where are you? Where is our money? The bull market is moving quickly. Act swiftly, Nischal!” This tweet echoes the feelings of others who desire quick responses and immediate action.

In a different tweet, @AmolJagde asked Nischal to transfer WazirX’s ownership to Binance, hinting that this move could help rebuild trust. He added that such an action at this crucial time would be like giving a Diwali gift, emphasizing the need for swift decision-making as the market momentum intensifies.

The growing unease among WazirX users is clearly evident in the recent uproar on Twitter. They fear being left behind as the crypto market continues to flourish, and are urgently calling for access to their funds, transparency, and accountability from Shetty and the team. They don’t want to miss out on potential earnings.

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2024-10-29 09:08