A Year Later, WazirX Users Still Waiting for Answers
It’s been almost a year since the WazirX hack—one of India’s worst crypto scandals—left thousands of users scrambling. Around ₹2,000 crore vanished, and the silence from founder Nischal Shetty has been deafening. Now, new details are surfacing, and they’re not making anyone feel better.
A quiet transfer of ownership rights, just weeks after the breach, has sparked fresh anger. Shetty handed over full control of Shinjuku FZC LLC, a UAE-based company tied to WazirX, to his wife, Moujhari Guha. No announcement, no explanation. Just a filing in *The Gulf Times* on August 14, 2024, the day after the change.
And while users were still trying to figure out what happened to their money, Shetty was already stepping back. His stake dropped to zero. Poof. Gone.
Singapore Court Adds to the Mess
If that wasn’t enough, a Singapore court just ripped apart WazirX’s old claims. The platform always said it never held user assets. But Justice Kristy Tan’s ruling confirmed the opposite—Zettai Pte. Ltd., WazirX’s Singapore arm, *was* managing those funds.
The court called out deliberate delays in transparency. Users were misled. Again.
Meanwhile, Shetty’s moved to Dubai, seemingly untouched by any investigations. He’s busy with his new project, Shardeum, a blockchain platform that launched earlier this year. It promised low fees and scalability, but its token has dropped nearly 77% from its peak. Not exactly a confidence booster.
No Refunds, No Accountability
What’s striking—or maybe just depressing—is how little has changed for WazirX users. Funds are still locked. Questions are still unanswered. And the people behind it all? They’ve moved on.
Twitter’s flooded with hashtags like #WazirScam, with users demanding justice. One tweet from @WazirXUsers put it bluntly: *”He ruined millions of families and no action from you.”*
But action feels unlikely. Shetty’s focus is clearly elsewhere, whether it’s Shardeum’s “SHM Party” promotions or partnerships with exchanges like MEXC. The past? Not his problem anymore.
For everyone else, though, it’s still very much a problem. And with every new revelation, it’s getting harder to believe they’ll ever see their money—or the truth.
