WazirX
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·2QYSjH…DWBFSummary
WazirX is an Indian cryptocurrency exchange co-founded in 2018 by Nischal Shetty, Sameer Mhatre, and Siddharth Menon that suffered the largest crypto hack in Indian history on July 18, 2024, when approximately $234.9 million in user assets were stolen from a Gnosis Safe multisig wallet via a sophisticated supply-chain-style attack attributed by Elliptic, ZachXBT, and a joint US-Japan-South Korea government statement to North Korea's Lazarus Group. The hack triggered suspension of all withdrawals, a Singapore court-supervised restructuring process in which users are expected to recover approximately 55% of their assets, and ongoing regulatory and law enforcement scrutiny in India.
Connected Entities
9 entities · 60 linked investigations- ZachXBT→mentioned with→Ethereum(70%)
- ZachXBT→mentioned with→Binance(60%)
- ChangeNOW→mentioned with→Ethereum(65%)
- Binance→mentioned with→Ethereum(65%)
- ChangeNOW→mentioned with→Binance(65%)
- WazirX→mentioned with→Binance(70%)
- WazirX→mentioned with→ChangeNOW(60%)
- WazirX→mentioned with→ZachXBT(70%)
- WazirX→mentioned with→Ethereum(75%)
- WazirX→mentioned with→North Korea Lazarus Group — H1 2026 Systematic Crypto Theft Campaign(80%)
- + 11 more
Timeline(21 events)
March 2018
WazirX co-founded by Nischal Shetty, Sameer Mhatre, and Siddharth Menon in Mumbai, India.
CNBCNovember 2019
Binance announces acquisition of WazirX; Binance later denies the acquisition was completed, initiating a prolonged public dispute.
Cryptopolitan11 June 2021
India's Enforcement Directorate issues show-cause notice to WazirX and directors Nischal Shetty and Sameer Mhatre alleging FEMA violations related to Rs 2,790 crore in transactions tied to an online betting fraud money-laundering probe.
Business StandardAugust 2022
India's Enforcement Directorate issues a second FEMA Show Cause Notice to WazirX regarding Rs 2,790 crore in alleged outward remittances.
Business Standard10 July 2024
Attacker deploys malicious smart contract on Ethereum and funds preparation wallet via Tornado Cash (six 0.1 ETH transactions), eight days before the attack.
Halborn Security / Crystal Intelligence18 July 2024
$234.9 million stolen from WazirX Gnosis Safe multisig wallet via malicious smart contract substitution. Liminal Custody interface manipulation caused four signatories (three WazirX, one Liminal) to approve the exploit transaction.
Wikipedia / CoinDesk18 July 2024
ZachXBT publishes on-chain analysis on X identifying attack characteristics consistent with Lazarus Group operations.
The Daily Hodl18 July 2024
Elliptic issues statement attributing the WazirX hack to North Korea-affiliated hackers based on on-chain analysis.
The Block19 July 2024
WazirX and Liminal Custody publicly blame each other for the breach. WazirX files FIR with New Delhi Police Special Cell and engages CERT-IN.
CoinDesk14 August 2024
Mandiant publishes forensic report attributing the breach to Liminal Custody's systems. Liminal disputes findings and commissions Grant Thornton for an independent review.
Wikipedia / CoinDesk14 August 2024
WazirX terminates custody relationship with Liminal and begins migrating remaining assets to new multi-sig wallets with institutional custodians.
CoinDesk3 September 2024
WazirX exploiter begins laundering stolen ETH through Tornado Cash, initially moving approximately $4 million across 16 transactions.
CoinDesk9 September 2024
WazirX exploiter moves additional $11 million in stolen ETH to Tornado Cash. Exploiter transfers 20,004 ETH across four wallets, draining each in 100 ETH batches to Tornado Cash.
CoinDesk18 September 2024
Binance publishes public statement denying any ownership, control, or operation of WazirX at any time, accusing Shetty of misleading users.
BanklessTimes14 January 2025
US, Japan, and South Korea issue formal joint statement through the US Department of State explicitly attributing the $235M WazirX hack to North Korea's Lazarus Group, within a broader $659M in 2024 DPRK cryptocurrency thefts.
US Department of State8 April 2025
93.1% of voting creditors (by count) and 94.6% by value approve WazirX's initial Scheme of Arrangement restructuring plan.
CoinDesk5 June 2025
Singapore High Court declines to approve the initial restructuring plan, citing concerns over transparency including undisclosed incorporation of Zensui Corporation in Panama.
CoinDesk18 August 2025
Revised restructuring plan receives 95.7% creditor approval (by number) in second vote following court-ordered amendments.
crypto.news13 October 2025
Singapore High Court sanctions the revised WazirX restructuring scheme. Users expected to recover approximately 55% of asset value via crypto distributions and Recovery Tokens.
Cointelegraph24 October 2025
WazirX resumes exchange operations following Singapore court approval, with custody migrated to institutional providers including BitGo.
Wikipedia27 October 2025
Indian court halts WazirX's proposed XRP reallocation plan, adding further legal complexity to user fund recovery.
CoinDeskDecision Log
- hash: AWgNEL74AMGdS1j6FzccGGGn9R1wMaHiJNqocAgVcrJL
- hash: F9srQHepoed3kkVd2XEwH8DbHGu5gR6xgG95YKhVjVez
- hash: 8hCQnvaRywBQd1PbCfQsonn28x3EoKGMskpjAN8tkAhY
This investigation is cryptographically anchored to the Solana blockchain (3 events).
model: claude-sonnet
generated: 5/4/2026, 4:04:58 PM
last updated: 6/15/2026, 7:41:24 PM
4 viewsavoid.net — verified advice for a post-truth world