Supreme Court of India Registers Criminal Petition Against WazirX

The Supreme Court of India has officially accepted a criminal writ petition filed by over 50 victims of the July 2024 WazirX crypto exchange hack, which led to estimated losses exceeding ₹2,000 crore (around $234 million).

The petition names WazirX‘s management, including co-founder Nischal Shetty, as well as Binance Holdings and Liminal Custody, as respondents. The victims accuse them of gross negligence, poor asset management, and weak security measures that enabled one of India’s largest crypto hacks.

Initially, the victims approached the National Consumer Disputes Redressal Commission (NCDRC), but their case was dismissed in February 2025.

The case is now being heard by a bench consisting of Justice B.R. Gavai and Justice Augustine Masih, with the first hearing scheduled for April 16, 2025.

According to the petition, WazirXs internal operations were severely flawed, with poor internal controls, a lack of transparency in fund handling, and a slow response after the breach. Victims also claim the company tried to minimize the reported damage in its early statements, leading to further loss of trust.

Beyond negligence, the petition makes serious allegations, suggesting a possible link between the hack and the North Korea-backed Lazarus Group. It also accuses WazirX of data manipulation, use of shell companies, and failing to secure more than ₹4,500 crore in user funds. An estimated 4.4 million Indian users may have been affected by the breach.

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