Indian Judge Blocks WazirX's XRP Redistribution Plan Tied to 2024 Hack

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

XRP-1.006%

Source: Coinmarketcap

Updated: Oct 27 2025

WazirX XRP Ruling: The Madras High Court has ruled that cryptocurrency can be held in trust, providing relief to a WazirX user whose XRP funds were frozen after a hack in 2024.
Legal Precedent: This decision may influence how Indian courts handle user claims against exchanges operating under foreign jurisdictions, emphasizing that cryptocurrency belongs to the user, not the exchange.
Court Order Details: The court ordered WazirX's operator, Zanmai Labs, to provide a bank guarantee equivalent to the frozen XRP amount, pending arbitration.
Impact on Users: The ruling marks a significant win for Indian users affected by the WazirX hack, as it acknowledges their rights to their cryptocurrency holdings amidst ongoing restructuring efforts by the exchange.

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.

Indian Judge Blocks WazirX's XRP Redistribution Plan Tied to 2024 Hack

About the author

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