• A new affidavit filed by a WazirX user demands the return of unhacked crypto, alleging Zettai has no proof of the hack.
  • Users are furious over potential delays due to a proposed re-vote, one year after no refunds and missed court deadlines.
  • India’s regulatory silence despite ED links to WazirX in the OctaFX scam has sparked public outrage on X.

One year after the ₹2000 crore WazirX debacle, tensions have boiled over. Enraged users have taken to X to voice their frustration as legal proceedings drag on, refunds remain elusive, and yet another twist hits the Singapore court.

On July 7, a new 40-page affidavit filed by WazirX user Romy Johnson made waves. The document demands the immediate return of unhacked crypto assets and directly challenges Zettai, the Singapore-based entity overseeing the restructuring. Johnson alleges that:

  • Zettai has no concrete proof of a hack,
  • Unhacked assets like BTC, XRP, TRX, BNB, and USDT are not legally classified as debts,
  • Zettai reclassified user funds and concealed a shell entity in Panama.

The community, already fuming over the lack of progress, sees this affidavit as a breaking point.

“Enough is enough. Return the damn tokens!”

That's exactly what The Crypto Times wrote in its X post.

Meanwhile, WazirX claimed in a July 4 statement that they’ve filed the necessary affidavit late but are moving ahead. The next court hearing is set for July 15, with a reserve date of July 16. A final hearing is reportedly scheduled for July 17.

However, users remain skeptical, especially as the affidavit from Nischal Shetty, founder of WazirX, hints at a possible re-vote that could stall proceedings by another 2 months.

The re-vote, if initiated, would come despite earlier approvals by creditors.

“We just want our tokens back,” wrote X user RK Gupta.

Others have called for international intervention, suggesting the case be handed over to the FBI or Interpol.

What’s adding fuel to the fire is India’s complete regulatory silence. Despite repeated mentions of WazirX in the ED’s probe into the OctaFX scam, where scammed money was funneled via wallets linked to Zanmai Labs (WazirX’s parent entity), no domestic investigation has been initiated.

As X user, Nimesh posted:

“This govt is obsessed with taxing every rupee but blind to justice.”

OctaFX, however, strongly denies the allegation. The Octa Broker Press Office told Newzchain that they have no association or business relationship with Zanmai Labs, and they are not among their partners.

"We also firmly reject any claims of money laundering or engaging in practices that disadvantage traders. As a licensed global CFD broker, we strictly comply with international regulatory standards, including robust AML and KYC procedures," said Octa Broker Press Office.
"Furthermore, we cooperate fully with local authorities and investigative bodies upon receipt of properly documented and lawful requests. Our compliance team ensures rigorous checks to prevent any misuse of our platform, including measures to combat money laundering and terrorism financing."

Amid this whole shebang, crypto influencers are divided. Some praised the platform’s shift of operations to Zanmai India as a “brilliant” move. Others called it a smokescreen. And for many, this saga now represents more than a refund battle; it is now a damning reflection of India’s broken crypto regulation.

With the final hearing approaching, users are asking the same question: Will justice finally be served, or is this just another rerun of broken promises?

Edited by Harshajit Sarmah

Editorial Update: This piece has been updated to include a statement from Octa denying any association with Zanmai Labs and refuting the allegations.