The WazirX hack controversy refuses to die down as thousands of investors have been agitating since a month, demanding for immediate retrieval of their funds that have been locked in the exchange since the July 18 hack.
After waiting patiently for over a month, the WazirX investors are now threatening dire actions including suicide if their demands are not met. Social media sites like ‘X’ are again being flooded with videos and audios of WazirX investors sharing their plight.
X user @indiascrypto who has been at the forefront, unifying voices of WazirX investors, shared a post on Tuesday night, alleging that a distressed person is threatening suicide as his funds are locked in WazirX. Ever since the July 18 hack that resulted in loss of 45% investor funds, WazirX has locked the remaining funds and halted all operations including withdrawals.
In the audio clip shared on ‘X’, a victim WazirX investor can be heard threatening to commit suicide if his Rs 5 lakh (almost $6000) worth funds are not returned to him. The user can be heard giving an ultimatum of 10 days to WazirX to enable withdrawals.
The Crypto Times does not condone any acts or threats of self-harm and urges fellow victim investors to seek counseling and emotional support in times of distress. Users in India can check this website for immediate counseling.
Another WazirX user from Mizoram state of India, released a video sharing his anguish that he had to sell his motorcycle to support his medical bills after he lost his money in the exchange.
“If you are watching this Nischal, it’s been over 34 days that we have been waiting patiently. I believe you are aware that your users are facing a financial crisis. I have sold my vehicle to pay my medical bills and now I might have to sell off my parent’s property,” said the victim investor in the video.
Earlier, The Crypto Times had reported how WazirX investors are suffering financially and physically after their funds were locked in the exchange. Another investor- a 64-year-old man was admitted in the ICU of a hospital in New Delhi after getting his Rs 60 lakh worth of funds stuck in WazirX.
Blame Game Continues; No Respite in Sight
Even as thousands of investors protest against WazirX demanding immediate withdrawal of their funds, there seems to be no respite from the exchange.
On Monday, WazirX released a statement, blaming squarely their estranged security partner Liminal Custody for the breach of their multi-sig wallet that resulted in loss of investor funds. Liminal Custody has refuted the allegations of WazirX and invited for a third party impartial forensic audit of their devices.
Moreover, WazirX co-founder Nischal Shetty took to ‘X’ and posted a bizarre comment asking investors and influential crypto figures as to why he was not warned earlier about the risks of storing 45% in a single wallet. WazirX has restored the balance of their customers but there is no information available regarding when funds withdrawal process will be initiated.
Conclusion
With such equations in place, the troubled investors of WazirX are now getting anxious but there seems to be no recourse in sight. With the Reserve Bank of India not regulating cryptocurrencies, the massive hack of Rs 2000 crores of WazirX has been largely avoided by the politicians and Indian authorities till now. But the question remains- for how long?
Also Read: “Why didn’t you warn us before?” WazirX co-founder asks month after hack
