On October 28, 2024, victims of the WazirX hack, which occurred in July, are organizing a class-action lawsuit against India's largest crypto exchange to recover over $600,000 in stolen crypto assets. This follows a significant security breach where more than $230 million in cryptocurrencies were stolen, including over $52 million in Ether and $100 million in Shiba Inu, accounting for 45% of WazirX's total reserves as of June 2024.
The lawsuit targets WazirX's Singapore-based parent company, Zanmai Labs Pvt Ltd, and is set to be filed with the National Consumer Disputes Redressal Commission (NCDRC) by November. Approximately 30 victims have already engaged lawyer Aman Reehan Khan for representation.
Despite WazirX securing a four-month moratorium in Singapore for recovery efforts, the victims are determined to seek full restitution, challenging the exchange's commitment to only return 55% of the stolen funds. Khan anticipates that more victims will join the lawsuit, which is part of broader efforts to hold WazirX accountable, including social media campaigns.