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WazirX (WRX) price has recorded a crash of over 50% today after the leading crypto exchange, Binance, revealed its delisting plans for the token. Besides, the Indian crypto exchange has also faced another major setback today, as the Delhi High Court has reportedly ordered a fresh probe of the exchange. According to recent reports, the HC Justice has rejected Delhi Police’s report following a previous order that called for a criminal investigation into the exchange’s hack.
WazirX Faces Major Setback Amid Fresh Probe
According to recent developments, the Indian crypto exchange, WazirX, has faced a major setback as the Delhi High Court ordered a fresh probe today. The High Court has rejected the Delhi police’s status report on the WazirX hack case, ordering a fresh investigation. The court’s decision comes after Advocate Jaivir Bains filed a petition demanding a criminal investigation into the hack.
Notably, the Delhi police had initially stated that no case could be made, but Justice Sanjeev Narula has asked for a new status report by February 13, 2025. The court’s move indicates that the Indian exchange has not been given a clean chit, and the exchange’s management may face further scrutiny. This development has sparked discussions in the market.
Meanwhile, the security breach on the exchange was one of the biggest crypto scams this year. The hackers have drained around $230 million funds from the exchange, which has sparked widespread discussions in the broader crypto market.
However, the recent developments signal that the exchange may continue to face hurdles in the coming days. Besides, the latest probe order was lauded by many in the crypto community, while others seeking further clarity on the case.
WRX Crashes 50% After Binance Delisting News
WazirX has faced another major setback, as the leading crypto exchange Binance has announced the delisting of WRX tokens along with two other crypto. Notably, WRX price today crashed 52.65% to $0.1132 following the delisting news and after it touched a 24-hour high of $0.2494. Its one-day trading volume plunged about 19% to $21.87 million.
WazirX (WRX) Price
In the latest Binance announcement, the exchange has revealed its plan to delist the WRX token alongside AKRO and BLZ. The delisting is part of Binance’s thorough review of the assets to continue meeting the “high level of standard and industry requirements”, the exchange added.
So, based on its recent review, the crypto exchange decided to delist Kaon (AKRO), Bluzelle (BLZ), and WRX tokens from its platform. Precisely, the trading of the AKRO/USDT, BLZ/BTC, BLZ/USDT, and WRX/USDT pairs will cease from December 25.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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