Summary: After the massive Bybit hack that wiped out $1.5 billion, most exchanges reassured users their funds were safe. But WazirX? They stayed completely silent. Even worse, they secretly withdrew ₹606 crore from Bybit just a day after the attack, offering zero explanation.
The Bybit hack on February 21, 2025, was one of the biggest exchange breaches ever, draining over 400,000 ETH. While most exchanges addressed user concerns, WazirX chose a different path—silence. Then, just 24 hours after the hack, they quietly moved ₹606 crore out of Bybit, without a single update to their users.
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A year ago, WazirX users lost ₹2,000 crore in another major hack. To make matters worse, the exchange had transferred ₹606 crore of remaining user funds to Bybit—an unregistered exchange in India at the time. Now, after the Bybit hack, they’ve withdrawn their funds without saying a word, leaving users in the dark yet again.
Crypto analyst Aditya Singh exposed the transaction, sharing proof on X. He questioned why WazirX had funds in Bybit in the first place and why there’s still no proof of reserves. “Imagine if Bybit didn’t cover losses. What would’ve happened?” he wrote.
Meanwhile, CoinDCX and CoinSwitch quickly reassured users they weren’t affected. Bybit itself restored withdrawals within two days. WazirX? No fixes, no statements, no transparency.
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Nischal Shetty, once a vocal advocate for decentralization, has gone silent. He’s focused on his Web3 projects while WazirX users are left stranded. Ask questions, and you might just get blocked.
This isn’t just bad management—it’s pure negligence. If WazirX truly cared, they would have addressed this long ago. Instead, they’re waiting for the noise to fade, hoping users stop asking questions. But the real question is: How much longer will WazirX ignore its users while pretending nothing happened?
