Bombay HC Backs CoinSwitch in WazirX Theft Case

The post Bombay HC Backs CoinSwitch in WazirX Theft Case appeared first on Coinpedia Fintech News

The Bombay High Court ruled in favor of CoinSwitch, allowing it to secure stolen crypto assets held on the WazirX platform after a $234 million hack in July 2024. The court dismissed WazirX operator Zanmai Labs’ challenge to an arbitration order requiring them to provide bank guarantees to protect investors’ claims. This decision supports CoinSwitch’s ownership of its assets stored on WazirX and enforces protections for users affected by the cyberattack.