On December 27, India’s largest cryptocurrency exchange WazirX founder Nischal Shetty confirmed that the long-standing ownership dispute with CEX has entered formal litigation. The controversy dates back to 2019 when CEX announced the acquisition of WazirX, but since then, both parties have publicly “clashed” multiple times over control and operational rights. Shetty stated that both sides are currently “each sticking to their own story,” and the outcome of the lawsuit is crucial. Additionally, Shetty responded to disputes with the custodial firm Liminal. WazirX attributed part of the responsibility for the 2024 hacking incident (losses exceeding $230 million) to its multi-signature custodial infrastructure, but Liminal publicly refuted this and released data to question it. (Cryptopolitan)
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WazirX Founder: Long-term ownership dispute with CEX enters formal litigation stage
On December 27, India’s largest cryptocurrency exchange WazirX founder Nischal Shetty confirmed that the long-standing ownership dispute with CEX has entered formal litigation. The controversy dates back to 2019 when CEX announced the acquisition of WazirX, but since then, both parties have publicly “clashed” multiple times over control and operational rights. Shetty stated that both sides are currently “each sticking to their own story,” and the outcome of the lawsuit is crucial. Additionally, Shetty responded to disputes with the custodial firm Liminal. WazirX attributed part of the responsibility for the 2024 hacking incident (losses exceeding $230 million) to its multi-signature custodial infrastructure, but Liminal publicly refuted this and released data to question it. (Cryptopolitan)