The Supreme Court of India has accepted a criminal writ petition filed by more than 50 individuals against the management of cryptocurrency exchange WazirX and its co-founder, Nischal Shetty. The petitioners are seeking a criminal investigation into the alleged ₹2,000 crore cyber hack that took place in July 2024. The case has been scheduled for hearing on Wednesday, April 16, and has been assigned to the bench comprising Justice B.R. Gavai and Justice Augustine Masih.
A total of 54 victims—who had earlier approached the Delhi High Court—have now moved the apex court, demanding action against the respondents, which include the Union of India, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Financial Intelligence Unit (FIU), National Investigation Agency (NIA), Central Bureau of Investigation (CBI), Serious Fraud Investigation Office (SFIO), Zanmai Labs/WazirX, Nischal Shetty, Binance Holdings, and Liminal Custody.
The petitioners, represented by Advocate-on-Record Priyanka Prakash and arguing counsels Maitreyi S. Hegde, Anjali Anil, and Radhika Prasad, have alleged gross mismanagement and negligence by WazirX, Binance, and Liminal Custody in handling public crypto assets worth ₹4,500 crore. WazirX itself has acknowledged an ongoing ownership dispute with Binance. Meanwhile, the funds of nearly 4.4 million Indian users have remained frozen on the exchange for the past 10 months following the cyberattack by unidentified individuals.
