As a seasoned crypto investor who has witnessed the rollercoaster ride that is this industry, I find myself deeply troubled by the ongoing controversy surrounding Pi42 Exchange’s involvement in the India Blockchain Week (IBW) event. Having lost a substantial amount in the WazirX hack, I can empathize with the frustration and anger of those who are demanding action against Pi42.
With the recent WazirX hack, there’s been an increasing call for the Pi42 Exchange to not participate in the India Blockchain Week (IBW), which is set to take place on December 4-5, 2024, in Bangalore, from concerned users.
The controversy stems from the involvement of Nischal Shetty, co-founder of Pi42 Exchange, and the fact that Mahin Gupta, former security partner of WazirX and CEO of Liminal, was also an advisor for Pi42.
Many users, who allege they were affected by the WazirX hack, contend that endorsing Pi42 Exchange during IBW (India Blockchain Week) potentially violates trust and fairness, since a significant portion of their funds remain stuck on the WazirX platform.
It’s becoming more widely believed that Pi42 may be unintentionally profiting from the WazirX hack, as some user funds could be channeled towards financing their sponsorship of the Indian Blockchain Week (IBW).
In response to the ongoing campaign, people have been overwhelmingly posting on social media platforms, calling for IBW to withdraw its support from Pi42. They view IBW’s association with the exchange as a deceptive scheme and a breach of trust towards those who invested their savings. Some users have even gone so far as to claim that IBW is involved in a hacking incident.
More and more people are urging a boycott of IBM (International Business Machines) and encouraging others to express their opinions by either participating in the event or staging a protest, should the situation call for it.
In response, certain users have begun suggesting that the organizers of IBW are supporting Pi42’s participation despite the uproar, implying that WazirX might be using user funds to boost companies like Pi42. They also claim that the company has failed to reimburse victims who suffered losses.
It’s been noted that Nischal Shetty, who is associated with WazirX’s management, has now surfaced in connection with Pi42 Exchange. This association raises questions about the authenticity of Pi42 Exchange, as it adds to the broader concerns about WazirX’s handling of the hack incident. The involvement of Pi42 in IBW (Indian Blockchain Week) can be seen as an expansion of WazirX’s ongoing struggles to handle the repercussions of the hack.
The demonstrators are advocating that IBW should re-evaluate its alliance with Pi42, as they believe it’s a matter of ethical duty for them to sever ties with any system linked to the ongoing WazirX hack concerns.
Though IBW organizers remain silent on the matter, attendees’ requests are growing increasingly intense. Given that tickets for the occasion have been available for purchase, the ongoing turmoil stirs up concerns regarding the event’s credibility and the impact of corporate backing within the blockchain society.
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2024-11-30 22:12