WazirX secretly moves funds out of Bybit post hack
The Bybit hack on February 21, 2025, noticed $1.5 billion worn out, making it one of many greatest crypto hacks ever. Whereas most exchanges rushed to reassure customers that their funds are protected put up Bybit hack, WazirX had stayed utterly silent. What’s worse? They quietly moved ₹606 crore out of Bybit only a day after the hack, with out a phrase of clarification.
Months after the Rs 2000 crore hack in July 2024, WazirX had secretly moved Rs 606 crore value of remaining person 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 supply any clarification to their customers.
WazirX users have been caught for over seven months for the reason that ₹2,000 crore hack in July 2024 and withdrawals are nonetheless frozen, whereas hundreds of thousands of customers are awaiting a voting process by WazirX administration for a restructuring scheme to be permitted from the courtroom.
Crypto analyst Aditya Singh known as this out on X, sharing transaction proofs and saying: “WazirX had person funds on Bybit Change 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 Stay POR however Nischal Blocked me and until this date they haven’t revealed 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 huge hit, restored withdrawals inside two days. Their CEO confirmed on-chain knowledge exhibiting operations had 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 utterly silent. Whereas he’s busy with Shardeum and Web3 initiatives, WazirX customers are left at the hours of darkness. Ask questions, and also you’ll probably get blocked.
This isn’t simply mismanagement, it’s outright neglect. That they had the time and assets 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, alternatively, has moved swiftly to recuperate. 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?
