Crypto Nightmare: Court Says “Eh, Not Our Problem” 🙄

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So, these crypto guys in India, they lost like, ₹2,000 crore in some cyber thingamajig with WazirX. Two thousand crore! 💰 And they thought the Supreme Court would be like their personal ATM? Fuggedaboutit! The court basically said, “We’re not your financial advisors, pal. Go bother the government.” 🤷‍♂️

The Supreme Court has dismissed the #WazirX users’ petition, which is a big setback for the crypto community in India.

This decision could affect future crypto rules in the country.

It’s important for everyone to stay informed and be ready for what happens next.#WazirX…

— Rananjay Singh (@TodayCryptoRj) April 16, 2025

How Did This All Begin? Seriously?

Apparently, some hack happened back in July 2024. A “huge” hack, they say. Like, did they leave the vault door open? And these investors, they’re running around like chickens with their heads cut off, going to every court in the land. First the local courts, then the Delhi High Court… nothing! Now the Supreme Court slams the door in their faces. What a system! 🤦‍♂️

And get this, some people think WazirX’s main guy, Nischal Shetty


nischal shetty

Nischal Shetty is the Founder of India’s largest and extremely trusted crypto exchange platform called WazirX. He is an entrepreneur who is passionate about technology, blockchain, crypto, and innovation. Founded WazirX in 2018 with a mission to involve every Indian in the blooming Blockchain revolution, built along with a team of passionate blockchain believers and hardcore traders. At present, he is also serving as Committer at Shardeum since February 2022 which is a sharded, infinitely scalable, community-driven completely decentralized layer 1 blockchain firm.
 
In 2010, Nischal became the Founder of Crowdfire which is a Software development company based in Mumbai. Via Crowdfire he helps individuals easily manage their social media profiles around multiple platforms by bringing them into a single and simple interface. Nischal Shetty began his career life holding and leading the position of Software Executive at 31 Infotech developing virtual solutions in Java and related technologies. Whereas In January 2009, he Founded Twi5 which is one stop place for discovering all the best Twitter applications and attracts thousands of visitors every day. Apart from this, he adores sharing his opinions on technology, development, and innovations. Nischal Shetty has been honored with several awards and recognitions some of which include Forbes 30 under 30, and the Inspiring CEO’s award by ET. 

EntrepreneurDeveloper/ProgrammerChief Executive OfficerAuthor




, was either a moron or maybe even, dare I say, *involved*. And there’s some fight with Binance about who’s really in charge. It’s like a Marx Brothers movie, only with more money at stake. 🤡

Supreme Court Dismisses WazirX Users’ Plea

SC said it’s not the relevant authority to handle crypto matters.

Petition was filed by 54 users after ₹2000 Cr hack on WazirX.

SC advised them to approach the Union Govt or regulatory bodies.

— Sujal Jethwani (@SujalJethwani) April 16, 2025

What Did the Supreme Court Say? Besides “Get Out”?

Basically, Justices Gavai and Masih were like, “Crypto? That’s *their* problem,” pointing vaguely towards the government. RBI, SEBI, CBI… it’s like a bureaucratic scavenger hunt. Good luck with *that*. 🙄

They told the victims to bug these authorities, but didn’t actually *tell* the authorities to do anything. It’s like saying, “Go ask nicely,” after someone steals your car. 🚗💨

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What Were the Victims Asking For? You Know, Besides a Miracle?

They wanted some special investigation team to snoop around WazirX. And a full audit! And freeze their assets! Like that’s gonna happen. The court probably thinks crypto is some kind of fad anyway. 🦕

What Happens Now? Other Than Everyone Crying?

These poor schmucks are just stuck. ₹2,000 crore vanished, and the legal system is basically shrugging. Maybe they’ll get their money back. Maybe pigs will fly. 🤷‍♂️ It’s a PRETTY, PRETTY, PRETTY bad situation. 🤬

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2025-04-16 13:08