Destressed victims of WazirX Hack release video, demands release of 55% funds

As a crypto investor who has witnessed the tumultuous journey of the digital currency world, I can’t help but feel a profound sense of disillusionment and empathy upon hearing about the distressing tale of WazirX investors. Having invested my hard-earned savings into this space, I share the same fears and anxieties as those who have lost their life savings due to the hack.

A person who was badly affected by the WazirX Hack, India’s largest cryptocurrency hack worth approximately 20 billion Indian rupees, has shared a video of his father being treated in a private hospital’s intensive care unit. He claims that he lost over half a million rupees as an investor in this incident.

The video was shared on platform X by the user account @Indiascrypto, which represents the collective perspective of victims affected by the WazirX hack incident. WazirX, a prominent Indian cryptocurrency exchange, suffered a loss of approximately $230 million in investor funds during a cyber attack that occurred on July 18.

Alert Message from Tribe Leader Nischal Shetty: An Emergency Communication for BuddhaSource, Shardeum, CryptooAdy, Pushpendra Kumar, SimplyKashif, Crypto_Jargon, CryptoAmanClub, and VJ_CryptoTimes. This concerns the WazirX Users seeking Justice. #JusticeForWazirXUsers

— Justice for WazirX Users (@IndiasCrypto) August 9, 2024

In a five-minute video uploaded on Friday evening, the victim is heard saying that his 64-year-old father Omprakash, who is an investor with WazirX exchange, has been in the Intensive Care Unit (ICU) for the past two days following an investment of Rs 60 lakh.

“For the last three weeks, we’ve been anticipating some action from WazirX regarding this issue, but so far, we’ve received no response. It’s starting to become clear that this isn’t just a hack, but a fraud perpetrated against investors. My father has been in intensive care for the past two days. The community is deeply troubled by this incident. We implore Nischal Shetty (the co-founder of WazirX) to transfer the 55% unimpacted funds of WazirX to their investors as soon as possible.”

Following the publication of the video, numerous Indian cryptocurrency investors publicly requested WazirX to disburse approximately 55% of the funds held for each investor.

WazirX investors intensify their voice for compensation

As an analyst, I’ve noticed a growing concern among WazirX investors and their supporters. They’ve taken to tagging authorities and well-known figures like Dhruv Rathee, aiming to bring attention to the issues surrounding WazirX. Recently, a petition was submitted to the National Company Law Tribunal (NCLT) seeking an investigation into WazirX for potential mismanagement or fraudulent activity. Furthermore, other investors, including @indiascrypto, have publicly threatened to file a public interest litigation (PIL) in a higher court if their seven demands towards WazirX are not addressed.

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2024-08-09 21:24