🇮🇳 WazirX Scam പാർട്ട് 2💀

The Court’s Verdict ? 🙃 

❌ Verdict: Plan Rejected.

The Singapore High Court said: "This is something else entirely."
The restructuring plan that promised to return 85% of user funds?

😱 Secret Escape to Panama

Users were already shocked by that. But then, the court exposed something even worse:

WazirX’s parent company “Zettai” secretly registered a new company in Panama called “Zensui Corporation” on March 10, 2025.

The judge, Kristy Tan, said bluntly: “You’re clearly not serious about returning the users’ money.”

Turns out, WazirX kept this Panama move hidden from both the court and its users 👀

🌴 Why Panama?

Panama ennu paranjaal crypto world-il oru red flag aanu:

• No strict regulations

• Tax haven

• Easy to disappear

It’s like someone borrowing money from you, then running away and changing their phone number.

😡 Users React: Full Outrage

🔥 Twitter & Telegram Explosion

Indian crypto Twitter went nuclear. Rage tweets, memes, and Panama jokes went viral.
The term “Panama-ed” started trending 😤
Telegram groups were full of people calling it a total scam.

🙅 Courts Didn't Help

• Delhi High Court: “Go to the Government”

• Supreme Court: “Not our problem”

• RBI: “We don’t regulate crypto”

Users were left asking: “Then why are we paying taxes on crypto?”

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🙈 CEO Disappears!

Nischal Shetty – once active on Twitter, ippol complete silent mode.

Only communication: Oru cold email - “we respect the court decision and are exploring legal options.”

No explanation. No apology. No plan. 🔇

Twitter account-um restrict cheythu – comments block cheythu! 😂

🤡 Scam or Just a Slow Rug Pull?

Crypto analysts are calling this a “slow rug pull.”
Unlike FTX, which collapsed overnight, WazirX dragged the process over 11 months:

1. Claim they got hacked

2. Promise users they’ll get refunds

3. Drag the court process for time

4. Secretly move to Panama

5. Later blame “legal complications” for not paying

This isn’t new—it follows the same playbook as many crypto scams, just done slower to appear legit.

📉 The Hard Truth by the Numbers

• Users still stuck: 4.4 million

• Funds returned: ₹0

• Platform status: Frozen since July 2024

• Withdrawals blocked: 320+ days

🤔 The Big Questions

• Was the hack even real? Some users think it was staged

• Why Panama? Why choose a known money-hiding country?

• Where is Nischal? Why hasn’t he spoken since the court rejection?

• Will anyone go to jail? Unlikely—because no one wants to take responsibility

🧠 Crypto Mafia Summary:

🧨 Real Takeaway:

“Not your keys, not your crypto” is more than a meme—it’s a rule for survival.
This incident shows that Indian crypto regulations are broken.
Before trusting any exchange, always know where it’s registered and how secure it actually is.