WazirX secretly moves funds out of Bybit post hack, offers no explanation

The Bybit hack connected February 21, 2025, saw $1.5 cardinal wiped out, making it 1 of the biggest crypto hacks ever. While astir exchanges rushed to reassure users that their funds are harmless station Bybit hack, WazirX had stayed wholly silent. What’s worse? They softly moved ₹606 crore retired of Bybit conscionable a time aft the hack, without a connection of explanation.

Months aft the Rs 2000 crore hack successful July 2024, WazirX had secretly moved Rs 606 crore worthy of remaining idiosyncratic funds to Bybit speech that was unregistered with India’s FIU backmost then. It was lone a fewer weeks agone that Bybit was registered with the FIU.

Now, aft the hack, WazirX has discreetly moved their funds from Bybit speech without having felt the request to connection immoderate mentation to their users.

WazirX users person been stuck for implicit 7 months since the ₹2,000 crore hack successful July 2024 and withdrawals are inactive frozen, portion millions of users are awaiting a voting process by WazirX absorption for a restructuring strategy to beryllium approved from the court.

Crypto expert Aditya Singh called this retired connected X, sharing transaction proofs and saying: “WazirX had idiosyncratic funds connected Bybit Exchange which they retreat yesterday aft the Bybit hack. Imagine if Bybit didn’t screen losses. What would person happened. This is different crushed I person been asking Nischal to people Live POR but Nischal Blocked maine and till this day they person not published it.”

Meanwhile, CoinDCX and CoinSwitch assured their users they weren’t affected by the Bybit hack. But WazirX? Not a word. 

Bybit, contempt the monolithic hit, restored withdrawals wrong 2 days. Their CEO confirmed on-chain information showing operations were backmost to normal. WazirX, aft 7.5 months, is inactive stuck. No fixes, nary statements, nothing.

Nischal Shetty, erstwhile vocal astir decentralization, has gone wholly silent. While he’s engaged with Shardeum and Web3 projects, WazirX users are near successful the dark. Ask questions, and you’ll apt get blocked.

This isn’t conscionable mismanagement, it’s outright neglect. They had the clip and resources to safeguard their ain funds but person ignored the precise radical who trusted them. No impervious of reserves, nary transparency, conscionable silence.

If WazirX genuinely cared astir its users, they would person addressed this agelong ago. But they haven’t. And that silence? It says everything. How overmuch longer bash users person to hold portion WazirX pretends thing happened?

WazirX users are backmost to quadrate one, conscionable similar the time of the hack. There’s nary progress, nary effort, conscionable a blatant disregard for their customers. Bybit, connected the different hand, has moved swiftly to recover. This is the stark quality betwixt a liable speech and 1 that conscionable doesn’t care.

The question remains: Will WazirX ever code its users, oregon are they waiting for the sound to dice down?

Also Read: WazirX crosses archetypal hurdle, Can Nischal triumph spot of users again?