The Bybit hack on February 21, 2025, noticed $1.5 billion worn out, making it one of many largest crypto hacks ever. Whereas most exchanges rushed to reassure customers that their funds are protected put up Bybit hack, WazirX had stayed fully silent. What’s worse? They quietly moved ₹606 crore out of Bybit only a day after the hack, with out a phrase of rationalization.
Months after the Rs 2000 crore hack in July 2024, WazirX had secretly moved Rs 606 crore price of remaining consumer funds to Bybit trade that was unregistered with India’s FIU again then. It was only some weeks in the past that Bybit was registered with the FIU.
Now, after the hack, WazirX has discreetly moved their funds from Bybit trade with out having felt the necessity to provide any rationalization to their customers.
WazirX users have been caught for over seven months because the ₹2,000 crore hack in July 2024 and withdrawals are nonetheless frozen, whereas tens of millions of customers are awaiting a voting process by WazirX administration for a restructuring scheme to be permitted from the courtroom.
Crypto analyst Aditya Singh referred to as this out on X, sharing transaction proofs and saying: “WazirX had consumer funds on Bybit Alternate which they withdraw yesterday after the Bybit hack. Think about if Bybit didn’t cowl losses. What would have occurred. That is one more reason I’ve been asking Nischal to publish Reside POR however Nischal Blocked me and until this date they haven’t printed it.”
In the meantime, CoinDCX and CoinSwitch assured their customers they weren’t affected by the Bybit hack. However WazirX? Not a phrase.
Bybit, regardless of the large hit, restored withdrawals inside two days. Their CEO confirmed on-chain knowledge exhibiting operations have been again to regular. WazirX, after 7.5 months, remains to be caught. No fixes, no statements, nothing.
Nischal Shetty, as soon as vocal about decentralization, has gone fully silent. Whereas he’s busy with Shardeum and Web3 initiatives, WazirX customers are left in the dead of night. Ask questions, and also you’ll possible get blocked.
This isn’t simply mismanagement, it’s outright neglect. They’d the time and sources to safeguard their very own funds however have ignored the very individuals who trusted them. No proof of reserves, no transparency, simply silence.
If WazirX genuinely cared about its customers, they’d have addressed this way back. However they haven’t. And that silence? It says every part. How for much longer do customers have to attend whereas WazirX pretends nothing occurred?
WazirX customers are again to sq. one, similar to the day of the hack. There’s no progress, no effort, only a blatant disregard for his or her clients. Bybit, then again, has moved swiftly to get better. That is the stark distinction between a accountable trade and one which simply doesn’t care.
The query stays: Will WazirX ever tackle its customers, or are they ready for the noise to die down?
Additionally Learn: WazirX crosses first hurdle, Can Nischal win trust of users again?
