The Supreme Court of India dismisses the petition of victims of the WazirX hacking incident

According to ChainCatcher, as reported by crowdfundinsider, the Supreme Court of India dismissed the petitions of 54 victims of the WazirX hacking incident on April 16, 2025, on the grounds that cryptocurrency regulation falls under government policy rather than judicial jurisdiction. The hack occurred on July 18, 2024, resulting in over $235 million in user funds being stolen. The victims requested a criminal investigation into WazirX, its co-founder Nischal Shetty, Binance, and the custodian provider Liminal, but the court stated it could not intervene in the absence of a clear regulatory framework. WazirX has proposed a restructuring plan to return 85% of the stolen funds and issue recovery tokens for the remaining portion.