It’s been almost a yr since one among India’s largest crypto debacles left customers blindsided. The ₹2,000 crore WazirX hack shook the ecosystem, however the silence from its founder, Nischal Shetty, has been louder than any response. Now, a recent twist has reignited public outrage, a secretive switch of possession rights after the breach.
However king of fraud @NischalShetty continues to be out of your attain how? He ruined thousands and thousands of households and no motion from you.. #WazirScam extra 10,000cr https://t.co/YzeX7nllWS
— Justice for WazirX Customers (@WazirXUsers) June 26, 2025
The Quiet Exit No One Noticed Coming
New revelations present that on August 13, 2024, simply weeks after the huge hack, Nischal Shetty transferred 100% possession of Shinjuku FZC LLC, a WazirX-linked firm registered within the UAE, to his spouse, Moujhari Guha. There have been no public bulletins, no consumer updates, and no phrase to regulators. Shetty diminished his stake to 0.00%, all whereas customers had been nonetheless grappling with the lack of their funds.
The switch was quietly filed and revealed in The Gulf Time on August 14, only a day after the possession change. This transfer occurred on the very second customers had been determined for management, solutions, and reassurance, and as a substitute, their founder was signing off and strolling away.
Singapore Court docket Exposes Extra Lies
Including gas to the hearth, a Singapore courtroom has now confirmed that Zettai Pte. Ltd., WazirX’s Singapore arm, was certainly holding consumer property, contradicting WazirX’s long-standing declare that it by no means had custody. Justice Kristy Tan’s ruling acknowledged that the platform misled customers and intentionally delayed transparency through the disaster.
Whereas Customers Wait, Nischal Strikes On
As consumer funds stay locked with no decision in sight, Nischal Shetty resides in Dubai, untouched by investigation, and actively engaged on his new enterprise, Shardeum.
Launched in April, Shardeum promised low fuel charges and scalable sensible contracts however has since crashed almost 77% from its peak, triggering recent backlash. Regardless of collaborating with MEXC and selling a “SHM Social gathering” marketing campaign, he has supplied no accountability for the WazirX mess.
With no solutions, no refunds, and no justice, the neighborhood’s persistence is sporting skinny as a result of each new element solely confirms that these accountable have already moved on.
