Indian cryptocurrency exchange CoinSwitch announces legal action against WazirX
ChainCatcher news, Indian cryptocurrency exchange CoinSwitch announced on X day that it will take legal action against competitor WazirX to recover approximately $9.6 million in assets that have been trapped since WazirX suffered a $230 million cyber attack in July, during which WazirX lost about 45% of its funds.
CoinSwitch stated that it had "no choice" but to take legal measures, as its efforts to recover these funds (which account for about 2% of its total assets) have been unsuccessful. WazirX is also facing potential asset freezes in India due to a petition submitted on August 3, requesting the National Company Law Tribunal to investigate possible fraud by the company.
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