People noted that Coinswitch’s move against WazirX has nothing to do with WazirX customers; instead, they care about the funds they were holding on the WazirX exchange.
As we already reported, the popular Indian crypto exchange WazirX was hacked two months ago. Indeed, one of the cold crypto wallets was compromised, and the exchange lost $235 million worth of cryptocurrencies. Yesterday, we reported that another Indian crypto exchange, Coinswitch, which was holding some funds on the WazirX platform, filed an affidavit against WazirX in a court in Singapore.
A Crypto X account dedicated to representing the WazirX customers affected by the hacking incident noted that Coinswitch’s affidavit against WazirX has nothing to do with WazirX customers. In short, Coinswitch urged the Singapore court to help withdraw money for the Coinswitch exchange and to take action as they see fit regarding WazirX customers.
So, we can say that almost every big player is acting in their interest, without considering WazirX customers, which is a significant concern for the Indian crypto space.
Under the current scenario, people are comparing WazirX CEO Nischal Shetty with infamous crypto entrepreneur SBF, who is currently in jail for the next 20 years for defrauding FTX exchange customers.
Now people believe that Nischal will also be arrested when he enters the jurisdiction of India.
Some crypto influencers noted that WazirX’s CEO is ruining his reputation in the Indian crypto space due to bad leadership. People observed that his advisors were not giving him better advice in this situation. At this point, Nischal should make decisions in favour of WazirX customers, to save both the customers and the reputation of his crypto empire.
Read also: Crypto Influencer Accuses WazirX CEO of Lying About Hack, Compares Him to Notorious FTX Founder SBF
