Bombay High Court Backs CoinSwitch as WazirX Appeal Fails

• Bombay High Court rules for CoinSwitch in WazirX case, setting crypto liability precedent
• Indian High Court dismisses Zanmai Labs’ appeal and affirms crypto asset security standards
• CoinSwitch ruling marks first major court decision on digital asset custody in India

The Bombay High Court has granted CoinSwitch the right to secure assets stolen during the $234 million hack of the WazirX platform in July 2024. 

The court dismissed an appeal from Zanmai Labs, which operates WazirX, challenging an arbitration order that directed the company to provide bank guarantees to secure claims arising from the cyberattack.

BREAKING: Bombay High Court rules CoinSwitch can secure stolen assets held on WazirX after the $234M crypto theft. pic.twitter.com/2Z4zoqLwh1

— Crypto India (@CryptooIndia) October 10, 2025

The court held that the tribunal acted within its authority …

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