Almost a year has passed since one of India’s biggest cryptographic failures blinded users. The 2,000 crore Wajirux hack has shaken the ecosystem, but the silence from founder Nishkar Shetty is greater than any response. Now a fresh twist has rekindled the public’s rage, a secret transfer of ownership after the violation.
But is the scam king @nischalshetty still out of your reach? He ruined millions of families and there was no action from you.
– Wazirx Users Justice (@wazirxusers) June 26, 2025
A quiet exit where no one comes
According to a new revelation, on August 13, 2024, weeks after the massive hack, Nischal Shetty transferred 100% ownership of Shinjuku FZC LLC, a company associated with Wajirux registered in the UAE to his wife, Moujhari Guha. There was no public announcement, no user updates, no word to regulators. Shetty reduced the stock to 0.00%, but users were still working on the loss of funds.
The transfer was quietly filed and made public on Gulf time on August 14th, the day after the ownership changed. The move came at a moment when users were desperate for leadership, answers and security, instead their founders were signing off and walking.
Singapore courts reveal more lies
A Singapore court has added fuel to the fire to confirm the Zettai Pte. Ltd., Wazirx’s Singapore division, actually holds user assets, which contradicts Wazirx’s long-standing claims. Judge Kristy Tan’s ruling said the platform misunderstood users and deliberately delayed transparency during the crisis.
Nischal moves while the user waits
As the user’s funds remain locked without a solution in sight, Nischal Shetty lives in Dubai, has been touched by investigation and is actively working on his new venture, Shardeum.
Launched in April, Shardeum promised a low gas fee and a scalable smart contract, but then crashed nearly 77% from its peak, causing a fresh backlash. Despite working with MEXC to promote the “SHM Party” campaign, he does not provide accountability for Wazirx Mess.
There is no response, no refunds, no justice, and the patience of the community is diminishing. Because all the new details make sure the person in charge is already on the way.