Delhi High Court Orders WazirX Operator to Disclose Binance Agreement, Restructuring Plan
Main Idea
The Delhi High Court has ordered Zettai Pte Ltd, owner of WazirX, to produce its acquisition agreement with Binance following a $235 million hack, amid growing scrutiny over WazirX's ownership and efforts to recover from the cyberattack.
Key Points
1. The Delhi High Court ordered Zettai Pte Ltd to submit its acquisition agreement with Binance within one week, along with related Singapore High Court documents.
2. The court's intervention highlights scrutiny over WazirX's ownership structure and recovery efforts after a July 2024 hack that drained millions in user funds.
3. Binance has publicly denied completing the acquisition of WazirX, disputing claims about the ownership transfer.
4. Creditors Sudhir Verma and Kunal Dhariwal filed a petition challenging WazirX's handling of the hack and are seeking a Special Investigation Team to probe the incident.
5. The next court hearing is scheduled for August 26, with RBI officials directed to participate, and voting on restructuring concluded on August 6, 2025.
Description
WazirX creditors say the order affirms user rights and raises hope for stronger regulatory oversight after the exchange’s $235 million hack.
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