Economic Fraud
Controversy Surrounds India Blockchain Week as WazirX Victims Call for Pi42 Exchange Removal Over Fund Misuse Allegations
A growing number of WazirX hack victims have expressed strong disapproval of Pi42 Exchange’s participation in the upcoming India Blockchain Week (IBW) scheduled for December 4-5, 2024, in Bangalore.
The controversy stems from the involvement of Nischal Shetty, a co-founder of both Pi42 Exchange and WazirX. Critics argue that Pi42’s presence at IBW, especially given the ongoing fallout from the WazirX hack, raises significant concerns about potential conflicts of interest and ethical implications.
WazirX Victims accusing IBW, Source: X
Key concerns raised by the victims include:
- Indirect Benefit from the Hack: Critics allege that Pi42 may be indirectly benefiting from the WazirX hack, potentially using funds lost by victims to support its operations and marketing efforts, including its participation in IBW.
- Lack of Transparency and Accountability: The victims argue that Pi42’s association with WazirX, a platform that has faced severe security breaches, raises questions about its commitment to user security and transparency.
- Damage to the Blockchain Industry’s Reputation: The victims believe that Pi42’s presence at a prominent industry event like IBW could tarnish the reputation of the blockchain industry as a whole, especially in India.
Social Media Campaign and Calls for Boycott
WazirX Victims Protest Pi42’s Presence, Source: X
A significant social media campaign has emerged, with victims urging IBW organizers to reconsider Pi42’s participation. The Boycott of IBW has gained traction, and many are calling for a boycott of the event to protest against Pi42’s presence.
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