- The Supreme Court rejects the production of 54 Wazirx users seeking measures over $ 230 million crypto hack.
- The Supreme Court says it cannot handle the case because Cryptocurrency issues fall under government policy and regulation.
In a major battle for Wazirx users, the Supreme Court has dismissed a criminal presentation submitted by 54 individuals seeking action against Crypto exchange And its co -founder nichel shetty over last year’s massive $ 230 million (£ 2,000 crore) crypto hack. The Court made it clear that it is not the right authority to handle Cryptocurrency issues and called it a “political issue that is better handled by government bodies.
However, the two-judge bench, led by justice BRAI and justice Augustine Masih, allowed the petitioners to approach the Union of India or other relevant regulatory forums. This comes after almost ten months of efforts from the victims, who had already turned on the doors to local and high courts before they reached the top court.
The petition had requested the formation of a special investigative team with officials from agencies such as RBI, SEBI, CBI and others, together with a forensic review of Wazirx’s economy. Users also wanted their portfolios protected and Wazirx’s accounts frozen.
With this dismissal, the victims are back to square, unsure of their next step or if justice will ever be served.
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