Delhi High Court orders new investigation into crypto exchage WazirX

Odaily reported that the Indian cryptocurrency exchange WazirX is facing increasing challenges. On December 18, the Delhi High Court ordered a new investigation into the platform, and on the same day, Binance announced that it would delist the exchange's native token WRX. This investigation was triggered by allegations of a previous hacking incident and concerns about financial irregularities, indicating that the scrutiny of the exchange is becoming more stringent. Before the court issued the order, lawyer Jaivir Bains filed a petition seeking criminal prosecution of WazirX, related to an attack incident in July 2024 that resulted in a loss of $235 million in cryptocurrencies. The preliminary report of the Delhi police concluded that no criminal case could be substantiated, but Judge Sanjeev Narula rejected the investigation results and requested a status report by February 2025. There were previous allegations that the North Korean hacker group orchestrated this intrusion. Although the cybersecurity company Cyfirma led part of the recovery work, the exchange acknowledged that 43% of customer funds remain unrecoverable. Meanwhile, Binance announced the delisting of WRX, citing the token's failure to meet compliance standards. The delisting took effect on December 25, leading to a nearly 60% drop in the 24-hour price of WRX.