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PrancingPotato
PrancingPotato
Stealth

WazirX Hack - the shitstorm gonna hurt bad

Almost 40 lakh Indians lost money to the WazirX hack and I feel this is not discussed much. Also no action from authorities.

They just burned millions of Indians and there isn’t much notice. How it’s still operating? After all we pay taxes on crypto investments but there isn’t any regulation or protection? I mean why hell tax is for.

This is just plain stupid. Finance Ministry is probably the most fuc*ed up ministry right now I think.

Why the founder not in legal soup?

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SparklyNugget
SparklyNugget
Capgemini9mo

Government wants people to stay away from crypto and continue investing in share market. WazirX is registered/operating from Dubai and it will take time for any legal action.

PrancingPotato
PrancingPotato
Stealth9mo

Oh okay, was not aware that they are register in Dubai.

PrancingPotato
PrancingPotato
Stealth9mo

Registered*

JumpyPretzel
JumpyPretzel
Stealth9mo

Govt had already clarified that it is unregulated scheme and they have got nothing to do with it, except levy taxes if you earn profit!! 😄 So all those who lost money in it, can go Vote for BJP all over again😄🤣

PrancingPotato
PrancingPotato
Stealth9mo

Shitty policy making

SleepyPickle
SleepyPickle
Stealth9mo

Not even tax on earning profit. It's 30% on sale. So even those who lost money might have to pay tax if they sold any amount this year.

PerkyWalrus
PerkyWalrus
Deloitte9mo

True. There is so high tax on crypto but no one is caring about it.

PrancingPotato
PrancingPotato
Stealth9mo

True true true

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News Discussion
News Discussion10mo
by CosmicTacoGrapevine

WazirX Recovery Plan Faces Backlash After $230-Million Hack

  • The FBI has reached out to WazirX to investigate the cyberattack, allegedly involving North Korean hackers, as the firm continues its recovery efforts."
  • WazirX's proposed recovery strategy following a $230-million hack has been met ...
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"Socialising the losses while privatising the gains is an unfair practice and investors will now think twice before m...