Indian Court Intervenes in WazirX XRP Distribution Related to 2024 Hack

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

XRP-1.006%

SATS-5.48%

Source: Coinmarketcap

Updated: Oct 27 2025

High Court Ruling: An Indian high court ordered WazirX's operator, Zanmai Lab, to provide a bank guarantee of approximately $11,800 amid arbitration proceedings related to a user's frozen XRP holdings following a significant cyberattack in 2024.
Legal Status of Cryptocurrency: Justice N. Ananad Venkatesh declared cryptocurrency as property that can be held in trust, complicating the claims process for users due to WazirX's parent company being based in Singapore.
Restructuring Plan: Following the 2024 hack, Zettai developed a restructuring plan under Singapore's legal framework, which was approved by the Singapore high court, aiming to facilitate repayments to affected users.
WazirX Relaunch: WazirX announced the restart of its operations after a year-long hiatus due to the hack, marking the first step in a phased reboot of its trading platform.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.