CTF Written Submission
SUBJECT: - Laws/Rules for preventing fraud by Centralized Exchange acting as Crypto Custodian
April 19, 2025
- Wazirx, a centralized cryptocurrency exchange, was hacked, resulting in the theft of $234 million worth of ETH and ERC20 tokens.
- Wazirx's claim of fungibility across different blockchains to justify withholding unaffected non-Ethereum crypto assets is misleading and false.
- Request for the US SEC to formulate laws to prevent misuse of users' crypto assets by centralized exchanges acting as custodians.
Last Reviewed or Updated: April 21, 2025