Urge the Indian Government to Investigate the WazirX Crypto Hack and Secure Users' Assets

The Issue

I am standing before you as a recent graduate who has been prudently investing for the last four years. The recent WazirX hack isn't just a news headline to me; it is a personally devastating blow. Every rupee I had invested in this platform was earned through sweat and determination, saved with a dream of funding my further studies. Years of anticipation for the next significant crypto bull run, believing it would make my dream come true, have now turned into a nightmare.

This unfortunate situation is not a lone case; numerous investors across our nation share this bitter experience. It begs the question; if the Government is levying taxes on crypto, why isn't it stepping up to assist its citizens in such crises? The absence of immediate government intervention and robust regulations exposes millions of Indians to the risks associated with cryptocurrencies.

The Indian Crypto market stood at $6.6 billion in May 2021, up from $923 Million in April 2020 (source: Chainalysis). With such a significant market size and increasing population investing in crypto assets, the protection of investors must be the government's utmost priority. It's time the Indian government urgently looks into this matter.

We request the Indian government to conduct a thorough investigation into the WazirX hack and adopt measures to ensure a secure environment for investors. We also demand clear policy frameworks for cryptocurrencies that not only protect investors' assets but also their aspirations.

Please stand with us by signing this petition and strengthen our plea for government action. Your signature could protect millions of dreams and ensure that no hard-working investor has to bear such a devastating blow again.

 

 

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Yash GaikwadPetition Starter

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The Issue

I am standing before you as a recent graduate who has been prudently investing for the last four years. The recent WazirX hack isn't just a news headline to me; it is a personally devastating blow. Every rupee I had invested in this platform was earned through sweat and determination, saved with a dream of funding my further studies. Years of anticipation for the next significant crypto bull run, believing it would make my dream come true, have now turned into a nightmare.

This unfortunate situation is not a lone case; numerous investors across our nation share this bitter experience. It begs the question; if the Government is levying taxes on crypto, why isn't it stepping up to assist its citizens in such crises? The absence of immediate government intervention and robust regulations exposes millions of Indians to the risks associated with cryptocurrencies.

The Indian Crypto market stood at $6.6 billion in May 2021, up from $923 Million in April 2020 (source: Chainalysis). With such a significant market size and increasing population investing in crypto assets, the protection of investors must be the government's utmost priority. It's time the Indian government urgently looks into this matter.

We request the Indian government to conduct a thorough investigation into the WazirX hack and adopt measures to ensure a secure environment for investors. We also demand clear policy frameworks for cryptocurrencies that not only protect investors' assets but also their aspirations.

Please stand with us by signing this petition and strengthen our plea for government action. Your signature could protect millions of dreams and ensure that no hard-working investor has to bear such a devastating blow again.

 

 

avatar of the starter
Yash GaikwadPetition Starter
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The Decision Makers

Nirmala Sitharaman
Nirmala Sitharaman
Minister of Corporate Affairs of India
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