Crypto Influencer Accuses WazirX of Concealing $27.5M in Bitcoin and USDT from Users!
Popular Indian crypto influencer Aditya Singh provided evidence alleging that WazirX leadership attempted to hide customer funds.
As we know, 1.5 months ago, the popular Indian crypto exchange WazirX experienced a hacking incident where it lost over $230 million worth of cryptocurrencies. Following the incident, WazirX suspended all forms of fund withdrawals but later allowed only a small amount of INR withdrawals.
On 9 Sep 2024, Aditya Singh took to X (formerly Twitter), claiming that WazirX is hiding nearly $27.5 million worth of crypto assets from customers.
He highlighted a mismatch of 337 Bitcoin, worth $18 million. WazirX holds 1475 Bitcoin in one wallet, but in a Singapore affidavit, they mentioned holding only 1138 Bitcoin.
He also pointed out a mismatch of USDT. According to Arkham’s wallet tracker, at the time of the hack, WazirX held $15 million USDT. The hacker stole $5.7 million, leaving WazirX with $9.5 million USDT.
Singh further mentioned that WazirX CEO Nischal Shetty confirmed some crypto was not tracked in their Proof of Reserves (POR), as they keep some on exchanges. This raises the possibility that the USDT held may be higher than the $6.5 million reported in the POR.
Binance vs WazirX vs WazirX Customers
Currently, WazirX customers are under significant stress, fearing that they might lose all their funds on the WazirX platform.
Some are optimistic, hoping that Binance might intervene in the Binance vs. WazirX legal battle and save the platform. However, experts believe Binance may not show interest in WazirX because already Binance leadership decided to terminate every type of link with WazirX two years ago.
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