TechFlow news, December 19 — According to Cryptoslate, on December 18, the Delhi High Court ordered a fresh investigation into the platform, the same day Binance announced it would delist the exchange's native token WRX. The probe follows allegations of hacking and financial irregularities.
Earlier, lawyer Jaivir Bains filed a petition calling for criminal proceedings against WazirX, alleging misconduct in July 2024 that led to the loss of $235 million worth of cryptocurrency. The court subsequently issued the above directive. A preliminary report by Delhi Police concluded the case could not be established, but Judge Sanjeev Narula rejected these findings and directed authorities to submit an updated status report by February 2025.
The renewed investigation highlights ongoing concerns about WazirX's operational integrity. Cybersecurity firm Cyfirma has led part of the recovery efforts, but the exchange has acknowledged that 43% of customer funds remain unrecovered.
