A recent post by an anonymous Twitter user alleges that WazirX made significant XRP transfers ahead of a hacking incident.
Allegations of XRP Transfers
The post claims that WazirX transferred over 55.25 million XRP (approximately ₹1,500 crore) to Binance and other wallets between February 2023 and July 2024, just before an alleged ₹2,000 crore hack. The claim that the XRP originated from a wallet tagged **rPPbi1iNXmvY9HmJ9sH9g4gxvgVEfN4NaZ** raised concerns about potential insider misconduct.
Response from WazirX CEO Nischal Shetty
To verify these claims, Coinpedia reached out to WazirX CEO Nischal Shetty, who clarified that the XRP transfers were part of regular user withdrawals and deposits. Users typically transfer their funds to exchanges where they hold accounts. Shetty mentioned that WazirX has long followed a practice of consolidating tokens into cold wallets for security, and the wallet in question was previously listed on WazirX's Proof of Reserves page.
Conclusions and WazirX's Position
In addition to the above, Shetty emphasized that all asset movements following the incident were disclosed and properly documented. He also denied the claims about transfers to Binance, stating, "We don’t have an account with Binance, so we would not be sending tokens there. If there is a specific on-chain transaction, we’re happy to verify it." Thus, the claim remains unverified pending evidence, as no direct proof has been provided to establish any irregularities.
At this stage, WazirX maintains that all asset movements were routines and transparent. The claims remain unverified, and no direct evidence has been presented to confirm any misconduct.
