The Delhi High Court has stepped in as Wajirux faces a backlash that alleges restructures users’ crypto assets without consent. The petitioner argues that the platform has made changes without user consent, and that even assets that are not attacked by past cyberattacks are affecting them. The court challenged the handling of crypto assets at Wajirux and issued a notice on March 28, 2025 in response to the petition filed by Sudhir Verma and Kunal Dhaliwal against the Union of India.
The application, part of a large case filed in October 2024, is attempting to halt the restructuring of user assets without consent. The court is currently giving the government a two-week response. This case sparked concerns about user rights and data protection.
In particular, the petition challenges the arrangement scheme proposed by Zettai Pte dated March 12, 2025. Ltd. manages and redistributes users’ crypto assets with Wazirx, raising concerns over a lack of user consent and transparency.
The petitioner claims that crypto assets worth £2,700 crore were not affected by the July 2024 cyberattack. However, a total of 4,400 crores including unaffected assets are currently being rebuilt. This includes rebalancing and liquidation of assets to cover Zettai’s obligations and operating costs. They claim this is done without the consent of the user and is in violation of their rights.
Additionally, the restructuring plan enforces removing legal cases and protecting the platform from liability, even if users do not agree to the plan. The petition also raises concerns about biased voting as the process is being handled by private advisors. To add, there is a major data privacy concern as the personal and financial information of four or more Indian users is shared with foreign companies.
Interestingly, the petitioner argues that taking the restructuring case to the Singapore High Court is a way to avoid Indian legal checks and could leave Indian users without a fair legal solution. They sought a Special Investigation Team (SIT) of experts in cybercrime, financial fraud and digital assets to investigate cyberattacks and ensure that Indian laws are in good condition.
In particular, the next hearing is scheduled for April 29th.
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