Developments in the WazirX hack: On July 18, 2024, WazirX, the largest cryptocurrency exchange in India, announced it had been hacked, losing approximately 235 million USD. A group of users argued that this may not have been a cyberattack but rather an internal job.

Revenue collapse: WazirX faced severe financial pressure after the Indian government imposed a 30% tax on cryptocurrency profits. The exchange’s revenue plummeted overnight, making operations increasingly difficult.

Accusations and investigations: New accusations have led to WazirX being sued and calls for investigation. Users are concerned about transparency and the ability to recover after the hack, urging authorities to intervene.

User situation: Millions of WazirX users are facing anxiety, many experiencing severe financial repercussions due to this incident. Some have resorted to extreme measures to offset their losses.