The WazirX investors, who are preparing to file multiple police complaints, cite the following grievances against the exchange:
- Misleading marketing: They allege that WazirX used aggressive marketing tactics to lure investors with promises of a secure and safe trading environment.
- Opaque ownership: The investors claim that there is significant confusion and obfuscation regarding the ownership of WazirX, especially in relation to its claimed acquisition by Binance.
- Negligence in safeguarding funds: The complaint accuses WazirX of failing to implement adequate security measures to protect investor funds, which led to the massive hack on July 18th.
- Suspension of withdrawals: The investors are infuriated by the prolonged suspension of withdrawals, preventing them from accessing their funds.
- Blame-shifting: The complaint highlights the ongoing blame game between WazirX, Liminal Custody, and Binance, with no party taking responsibility for the hack.
Essentially, the investors believe that WazirX’s actions (or inactions) constitute fraud, negligence, and breach of trust, resulting in significant financial losses for them.