WazirX Hack: Consumer Court Dismisses Lawsuit, Victims to Seek Justice in Supreme Court

Understanding the WazirX Hack Incident

The recent hacking incident involving WazirX, one of India’s leading cryptocurrency exchanges, has left many users in distress. The cybersecurity breach reportedly resulted in significant losses for affected individuals, sparking numerous lawsuits against the platform. A recent decision by a consumer court dismissed these lawsuits, raising questions about consumer rights in the digital finance space.

Details of the Consumer Court Ruling

In the recent hearings, the consumer court ruled against the victims who sought compensation for their losses stemming from the WazirX hack. The court stated that WazirX had not directly breached its contractual obligations, which has prompted significant backlash from the victims. Many of these affected users feel that they have no other option but to turn to higher judicial authorities for justice.

Next Steps for the Affected Users

Following the dismissal of their claims by the consumer court, victims have announced plans to approach the Supreme Court in April. They hope that the apex court will provide them with a fair hearing and pave the way for potential remedies. This development underlines the importance of consumer protection in the rapidly evolving world of cryptocurrency and highlights ongoing concerns regarding security and accountability in digital transactions.