CoinSwitch Sues WazirX Over Cyberattack, Seeks Recovery of Trapped Funds
CoinSwitch, a leading Indian cryptocurrency exchange, has filed a lawsuit against rival platform WazirX to recover funds stolen in a cyberattack. The attack resulted in the theft of 0 million worth of digital assets, highlighting the damage caused by security breaches. Despite efforts to resolve the issue, CoinSwitch has been unable to recover its trapped funds. This lawsuit sheds light on the challenges faced by India's cryptocurrency industry, which is grappling with regulatory uncertainty and security concerns. The outcome of this legal battle will have significant implications for both CoinSwitch and WazirX, as well as the wider cryptocurrency industry in India.