Indian Court Tells WazirX to Secure $11,800 in XRP Case

Crypto News Regulation

Indian Court Orders WazirX to Secure $11,800 Over XRP Dispute

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 28, 2025

Key Takeaways

Indian court told WazirX to provide a $11,800 guarantee in a dispute over XRP frozen after a major 2024 crypto hack;
WazirX’s parent firm, based in Singapore, proposed a court-monitored plan to manage asset distribution post-attack;
The court recognized cryptocurrency as property, which allows it to be held in trust and strengthens user recovery rights.

Stop overpaying - start transferring money with Ogvio. Sign up, invite friends & grab Rewards now! 🎁

Indian Court Orders WazirX to Secure $11,800 Over XRP Dispute

BITDEGREE IN YOUR SOCIAL FEED

An Indian court has introduced a ruling that could influence how cryptocurrency exchanges deal with user complaints after a security breach.

The case focuses on WazirX, a crypto trading platform, and its response to a user dispute regarding digital assets affected by a 2024 hack.

The Madras High Court, through Justice N. Anand Venkatesh, directed WazirX’s operator, Zanmai Lab, to offer a financial guarantee of roughly $11,800.

What is BNB? The Truth Behind Binance Smart Chain (Animated)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

This decision is part of an ongoing arbitration between the company and a user who held over 3,500 XRP XRP $2.13 tokens. These assets were frozen following a 2024 cyberattack that resulted in the loss of around $235 million in digital currencies.

According to the court filing, the company currently does not have enough cryptocurrency to fully repay all affected users.

To address this, WazirX’s parent company, Zettai, registered in Singapore, has proposed a plan. This plan, made under Singapore law, would allow for the organized return of assets under court supervision.

As part of the judgment, the court also stated that cryptocurrency can be treated as property. This means digital tokens can be owned, used, and managed in trust, similar to traditional financial assets.

The recognition may open up more legal options for users seeking to recover their funds in future disputes.

Recently, WazirX announced plans to resume services on October 24 after being offline for over a year. What did CEO Nischal Shetty say? Read the full story.