The Indian exchange has been accused of secretly transferring $75 million to global exchanges Bybit and KuCoin without users' knowledge. This was discovered several months after a hacker attack on WazirX in July 2024, raising questions about the platform's security.
WazirX, which is under legal investigation, provided 240,000 wallet addresses to the court, but investors, especially in India, do not fully understand how this affects their assets.
CoinSwitch, which holds funds on WazirX, was forced to use its own money to refund users and has filed a lawsuit. Data analysis showed that WazirX transferred $72.13 million to Bybit and $1.5 million to KuCoin without users' consent, further damaging its reputation and worsening legal issues.