News View Non-AMP

WazirX Users Take Legal Action Over Frozen Crypto Funds in Singapore

Published by
Rizwan Ansari

The battle over frozen crypto is heating up inside a Singapore courtroom, where WazirX users are demanding answers and their money back. In the High Court, frustrated users are standing up to Zettai, WazirX’s Singapore entity, claiming their unhacked Bitcoin, XRP, TRX, BNB, USDT, and even fiat balances have been wrongly frozen by Zettai, WazirX’s Singapore company. 

Now, an affidavit by Romy Johnson may become a big turning point for crypto rights.

The Big Problem: Frozen Assets

At the center of this fight is how Zettai grouped all user assets. According to Romy Johnson’s 40-page affidavit, these are: unhacked coins (Category A), fiat-like INR (Category B), and the hacked ETH/ERC-20 tokens (Category C). 

But under Singapore’s law, only real debts can be restructured, not user-owned assets held in trust. Users say Zettai crossed the line by using everyone’s coins to push a plan that doesn’t protect innocent holders.

The Hack That May Not Be a Hack

Things get more confusing because the so-called hack might not even be real. Blockchain records show something odd: the stolen coins were moved using internal multisig wallets that needed multiple approvals.

No clear sign of an outside attack has been shown so far. Therefore, this kills Zettai’s excuse that it was an outside hack.

Meanwhile, users are now calling out Zettai for hiding key details. They want the names of people who approved these transfers. They also want an audit to check where all the coins went and who should be held responsible.

Where the Court Fight Stands Now

Singapore’s High Court already rejected Zettai’s first scheme because it hid links to an offshore shell company. Now, Romy Johnson’s affidavit shows this is not just about one exchange. He cites major court cases proving that crypto held in trust belongs to the users, even during bankruptcy. 

However, the next hearing in WazirX’s ongoing case has now been rescheduled for July 15, 2025.

Will WazirX Return the Money?

At the heart of it, this is about protecting user funds. Meanwhile, Zettai claims it will repay users once the new plan is approved. But trust is low. Angry users point out that promises don’t pay bills. 

FAQs

Why are WazirX users suing Zettai in Singapore?

Users allege Zettai wrongly froze their unhacked crypto and fiat, violating trust laws and withholding rightful assets.

Was the WazirX crypto hack real or internal fraud?

Blockchain data hints the hack used internal multisig wallets, casting doubt on claims of an external attack.

Will Zettai return frozen crypto to WazirX users?

Zettai promises repayment after plan approval, but users remain skeptical due to past secrecy and broken trust.

Rizwan Ansari

Rizwan is an experienced Crypto journalist with almost half a decade of experience covering everything related to the growing crypto industry — from price analysis to blockchain disruption. During this period, he’s authored more than 3,000 news articles for Coinpedia News.

Trust with CoinPedia:

CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:

All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:

Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

Recent Posts

Canary Capital Files S-1 Amendment for Spot Litecoin and Hedera ETFs; Analysts Say Approvals Next

Canary Capital, a crypto investment firm, has filed amended S-1 filings for spot Litecoin (LTC)…

October 8, 2025

XRP Price Faces Bearish Outlook; Says Peter Brandt Amid Growing Impatience from Traders

Peter Brandt, a veteran trader, has cautioned a potential bearish outlook for XRP in the…

October 8, 2025

Bitcoin Price Drops 4% Today as Old Whales Reawaken Amid Leverage Flush

Bitcoin (BTC) price experienced a flash selloff on Tuesday after hitting its all-time high (ATH)…

October 8, 2025

Binance Coin Overtakes XRP and USDT to Rank 3rd Largest Digital Asset; What’s Next for BNB Price?

Binance Coin (BNB) has possibly entered its parabolic phase. The large-cap altcoin, with a fully…

October 8, 2025

Meme Coin Crypto Dogecoin Sees Holders Rushing To Enter The Early Stages Of This Potential Unicorn Crypto

Dogecoin (DOGE) remains one of crypto’s most recognisable names, but many long-term holders are beginning…

October 7, 2025

XRP Breaks Resistance, BNB Gains Strength—Yet Ozak AI’s Presale Momentum Steals the Show

Crypto markets in 2025 are displaying renewed signs of life, with blue-chip assets like XRP…

October 7, 2025