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WazirX users are outraged that asset recovery has been pushed past 2025 and into 2026.
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Singapore Court demands deeper review before approving WazirX restructuring.
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Crypto community demands external audits amid WazirX trust crisis.
WazirX has sparked public anger as it pushes its controversial restructuring plan, which delays asset recovery timelines until 2026.
WazirX, once India’s biggest crypto platform, is now under intense scrutiny by users who claim that the company has locked their funds without any transparency or recourse.
The frustration of users increases over long delays
The exchange is preparing for a restart of operations, pending a decision from Singapore’s High Court. This ruling will determine if WazirX can proceed with its proposed restructuring and compensation plan.
Users who had hoped to recover their assets by mid-2025 are now reporting vague communications that push the timelines out to 2026. Many people are angry with Nischal Shetty the co-founder of WazirX, accusing him for making misleading statements and breaking promises.
One viral post read: “#NischalShetty lied to the WazirX Users,” reflecting the growing anger of the community.
Related to WazirX Restructuring Nears Final Obstacle with May 13th Court Hearing Date
The High Court of Singapore has added to the uncertainty by ordering Zettai, the entity overseeing WazirX’s restructuring, to clarify the impact that U.S. Tariffs have had on the value of the assets held on the platform.
The calls for audits and stronger oversight are becoming louder
Critics claim that WazirX’s restructuring appears to be designed to lock users in a long-term hold structure without their consent rather than provide immediate restitution.
Related: India’s top court dismisses WazirX hack petition on regulatory grounds
The controversy has reignited concern over user asset safety and governance standards at centralized crypto exchanges. WazirX’s handling of the controversy could either set a precedent for a dangerous situation or serve as a warning to strengthen protections in the crypto sector.
