Fresh Investigation Ordered Into Indian Crypto Exchange Amid Binance Delisting Controversy

Delhi High Court Orders New Probe Into WazirX Amid Binance Delisting

The Delhi High Court has ordered a fresh investigation into the activities of Indian cryptocurrency exchange WazirX, amidst allegations of embezzlement and mismanagement. The development comes in the wake of a recent decision by Binance to delist several cryptocurrencies from its platform, including some linked to WazirX.

In an unprecedented move, the court directed a new probe into WazirX’s operations, citing concerns over the exchange’s financial health and investor security. This sudden turn of events has sent shockwaves throughout the Indian crypto community, with many users expressing their unease and anxiety regarding the potential implications for their investments.

As per reports, the court’s decision is based on an investigative report submitted by a special audit committee that highlighted significant discrepancies in WazirX’s financial statements. The committee reportedly discovered that the exchange had mismanaged investor funds to the tune of millions of dollars, leading many to question the authenticity and credibility of the platform.

Furthermore, this latest development has also sparked concerns regarding Binance’s decision to delist several cryptocurrencies linked to WazirX. This move is being seen as a possible attempt by the exchange giant to distance itself from any potential fallout related to WazirX’s financial irregularities.

While we are still waiting for further updates on the situation, one thing remains clear: this saga has only added more uncertainty and chaos to an already turbulent crypto market.

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Source: cryptoslate.com