cyber law

Frozen Wallets and Fading Trust: Legal Remedies available in cases of Cryptocurrency frauds and data breach

Summary: This two-part series uses the WazirX cyberattack of July 18, 2024, in which crypto assets worth approximately USD 230 million were stolen from a multisig wallet, as a factual anchor to map the full spectrum of legal remedies available to Indian crypto users whose assets have been frozen, eroded, or subjected to proposed “socialisation” haircuts following a platform breach. Part I examines the criminal, cyber law, and data protection remedies available to crypto users following a platform breach and explains how a layered strategy combining these remedies offers the most effective path.Continue Reading Frozen Wallets and Fading Trust: Legal Remedies available in cases of Cryptocurrency frauds and data breach