Summary
WazirX, operated in India by Zanmai Labs Pvt. Ltd., suffered a $234.9 million hack attributed to North Korea's Lazarus Group on July 18, 2024, freezing user funds and triggering multiple Indian regulatory investigations. India's Supreme Court dismissed a victims' petition in April 2025 citing a lack of crypto regulatory framework, while the Enforcement Directorate, Financial Intelligence Unit, and other agencies have opened probes into the exchange's operations, ownership structure, and alleged links to terror financing. A Singapore court approved a restructuring plan in October 2025, offering partial recovery to creditors.
Connected Entities
1 entities- + 6 more
Timeline(16 events)
2018-01-01
WazirX launched by Nischal Shetty; operated by Zanmai Labs Pvt. Ltd. in India
2019-11-01
Binance publicly announces acquisition of WazirX
2022-08-05
India's Enforcement Directorate raids WazirX director Sameer Mhatre, freezes Rs 64.67 crore in assets over alleged Chinese loan app money laundering
2022-09-12
ED unfreezes WazirX business bank account after over a month
2023-01-27
Nischal Shetty publicly states Binance lied about ownership; dispute enters formal litigation
2024-07-18
WazirX suffers $234.9 million hack via multi-signature wallet exploit; trading suspended; FIR filed in New Delhi
2024-08-01
Mandiant forensic report indicates breach likely originated through Liminal Custody's infrastructure
2024-09-01
Binance formally denies ownership of or responsibility for WazirX; blames Nischal Shetty for misleading users
2025-01-14
US, South Korea, and Japan issue joint statement formally attributing the WazirX hack to North Korea's Lazarus Group
2025-02-14
India's FIU-IND issues directive initiating probe into WazirX security failures; ED summons Binance executives
2025-04-16
India's Supreme Court dismisses petition by 54 WazirX hack victims, stating crypto regulation is a government policy matter
2025-07-12
FIU-IND launches further investigation into alleged links between WazirX wallets and Pakistan-linked terror financing
2025-10-13
Singapore High Court approves WazirX's debt restructuring plan; creditor vote result: 95.7% approval
2025-10-24
WazirX resumes trading operations following Singapore court approval
2025-10-25
Madras High Court blocks WazirX from redistributing a user's XRP; rules cryptocurrency is property under Indian law
2026-05-13
WazirX launches crypto futures trading as part of post-hack recovery push
Decision Log
- hash: 3RK9mwdar333KYPFpMv3Fgin95hiLpTY4XhbcQ1ci5ui
- hash: EhGhUiVG3SLf6SmHvZ8TJYgoyU5z7x1zHZUsHzLoFGUy
- hash: EuhHJEZehE6zHw394VwLrDwJGm1VZqvqThocFH6PyXTu
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:30 AM
last updated: 6/15/2026, 7:41:27 PM
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