Binance News: WazirX Hack Victims Face Hurdle as NCDRC Rejects Case, Plans to Appeal to Supreme Court

In a significant development for the cryptocurrency sector in India, WazirX hack victims have faced a setback as the National Consumer Disputes Redressal Commission (NCDRC) has rejected their case. Despite the substantial losses suffered by investors, the commission cited the lack of full regulation of crypto transactions in India as a reason for its decision. Here’s a closer look at the events and the victims’ next steps.

WazirX Hack: Consumer Court Rejects Case, Victims Plan To Approach Supreme Court

The National Consumer Disputes Redressal Commission (NCDRC) has declined to hear a case from WazirX investors who lost $234 million in a crypto hack. The commission cited the lack of full regulation of crypto transactions in India and stated that cryptocurrencies are neither legal tender nor officially recognized as investment assets. The investors’ lawyer plans to appeal to the Supreme Court next, seeking recovery of lost funds and criminal proceedings.

Binance CZ Shuts Down Delisting Rumors – Is ETH Crashing?

Ethereum, the second-biggest cryptocurrency, has seen its price fall nearly 13% after briefly touching $2,100. The drop comes as panic spreads over rumors that Binance might remove Ethereum from its platform. However, Binance’s former CEO, Changpeng Zhao (CZ), has refuted these claims, calling them completely false. The controversy started when Binance introduced two new community-driven features: ‘Vote to List’ and ‘Vote to Delist,’ which allow users to vote on which tokens should be added or removed from the platform. False news spread that Binance was planning to remove Ethereum, sparking panic among investors.