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CoinSwitch To File Lawsuit Against WazirX To Recover Stuck Funds

  • CoinSwitch announced plans to take legal action against WazirX to recover 2% of its trapped funds.
  • The company held INR 12.4 Cr and INR 28.7 Cr in ERC20 tokens, and INR 39.9 Cr in other tokens on WazirX.
  • WazirX experienced a major security breach on July 18, leading to withdrawals of approximately $234.9 Mn.
  • CoinSwitch claims WazirX has not responded to their queries, prompting the legal action.
  • Inc42 has reached out to WazirX for comments and will update the story based on their response.

Source: Inc42

3mo ago
1.7Kviews
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