- Suicide Threats and Other User Stories
- Continued Blame Game and Lack of Support
- Conclusion
WazirX investors continue to protest, demanding the immediate return of their funds that were locked after the July 18 hack.
Suicide Threats and Other User Stories
After waiting for over a month, WazirX investors are now threatening extreme measures, including suicide, if their demands are not met. Social media sites like 'X' have been flooded with videos and audios of investors sharing their struggles. From the quote by user @indiascrypto, a leading voice for the protests, it says, 'Suicide is not the way! It's so hard to listen to this audio. #WazirX we need withdrawals. #JusticeforWazirXUsers.' In this audio, an investor threatens suicide if his Rs 5 lakh (approximately $6000) worth funds are not returned within 10 days. Another user from Mizoram state shared that he had to sell his motorcycle to cover medical expenses after losing his money on the exchange. His interview stated, 'If you are watching this, Nischal, it's been over 34 days that we have been waiting. I sold my motorcycle to pay medical bills, and now I might have to sell my parents' property.'
Continued Blame Game and Lack of Support
Despite the ongoing protests from WazirX investors, there seems to be no support from the exchange. On Monday, WazirX released a statement blaming their former security partner Liminal Custody for the funds breach. In response, Liminal Custody firmly denied the accusations and invited for a third-party independent audit. WazirX co-founder Nischal Shetty expressed confusion about why he was not warned about the risks of storing 45% of funds in a single wallet. Although customers' balances were restored, there is still no information on when fund withdrawals will resume.
Conclusion
The situation for WazirX investors remains tense and uncertain. Without regulation by Indian authorities, the massive hack involving Rs 2000 crore has largely avoided political scrutiny. However, there remains the question of how long this will last.
With such conditions in place, the anxious WazirX investors continue to wait, but no solution appears in sight. Due to the lack of cryptocurrency regulation in India, the massive hack of Rs 2000 crore has mostly escaped the attention of politicians and authorities. But the question remains - for how long?
