WazirX Hack - the shitstorm gonna hurt bad
Almost 40 lakh Indians lost money to the WazirX hack and I feel this is not discussed much. Also no action from authorities. They just burned millions of Indians and there isn’t much notice. How it’s still operating? After all we pay taxes on crypto investments but there isn’t any regulation or protection? I mean why hell tax is for. This is just plain stupid. Finance Ministry is probably the most fuc*ed up ministry right now I think. Why the founder not in legal soup?
Government wants people to stay away from crypto and continue investing in share market. WazirX is registered/operating from Dubai and it will take time for any legal action.
True. There is so high tax on crypto but no one is caring about it.
Govt had already clarified that it is unregulated scheme and they have got nothing to do with it, except levy taxes if you earn profit!! 😄 So all those who lost money in it, can go Vote for BJP all over again😄🤣
GlassSkin63
Stealth
18 days ago
Not even tax on earning profit. It's 30% on sale. So even those who lost money might have to pay tax if they sold any amount this year.
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Bro deleted a reply asking "why" in order to show his "research" and wish a happy evening to a "pig" like me, despite his philosophy being out of discussions. Anyways, I had it typed up so I'll just post it.
• Crypto is used mainly as pump and dump, they were in it thinking they did good gambling. Crypto is the modern day Dutch tulip.
• Crypto doesn't have legit real world use. It is generally used for shady things, so if someone claims they have a use for it, it's an immediate sus.
• Crypto is not an investment. There is no underlying asset, it's purely speculative.
• (implicit point mostly from Dy Gov Rabi's speech) Crypto, especially when you see the stablecoins, are an instrument for hijacking a sovereign economy and take control away from the state. Plus, if the price of crypto is defined by USD, then it functions as proxy USD, and it is USD which is being used. I won't be surprised if crypto/Satoshi was an intelligence project too. Plus, who knows who the whales are?
• (part of same point) countries like US somehow "recover" hackings like these, showing their control over the infra. India can never recover these coins.
• Cryptobros are inherently anarchist, wishing for the breakdown of the state, so they should, on principle, not be provided any help by the state.
• Crypto is anyways meant to be decentralised. But bros put it in a centralised database handled by a private for-profit company and trust them more than RBI. This hacking is technically impossible if they had stored the blockchain locally. They brought it upon themselves.
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