Prithiviraj Senthil Nathan on WazirX Hack: Investors Face Risks Amid Regulatory Grey Area

In response to the recent WazirX hack, which has heightened concerns for cryptocurrency investors in India, Prithiviraj Senthil Nathan has addressed the legal uncertainties surrounding such digital assets. In an article by Moneycontrol, Nathan discussed the implications of the incident and the limited legal protection available to those affected.

“Cryptocurrencies in India operate in a regulatory grey area, and incidents like the WazirX case highlight the risks faced by investors,” Nathan stated. Despite the absence of a strong legal framework for cryptocurrency investments, he pointed out that investors are not entirely without recourse. Existing laws on fraud, breaches of contract, and negligence can offer some protection, though more robust regulations are urgently needed.

The WazirX hack has underscored the vulnerabilities faced by investors in the digital asset market. Nathan’s remarks have sparked further debate on the necessity for clearer regulatory oversight to mitigate the risks of cryptocurrency investments.

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