ChainCatcher news, the Madras High Court of India ruled on Friday that crypto assets constitute property protected by the constitution, preventing WazirX from reallocating user assets under its restructuring plan in Singapore. Judge N. Anand Venkatesh issued an injunction to protect 3,532 XRP tokens, rejecting the exchange's proposal for “socialization of losses” after suffering a $234 million hacker attack in July 2024. The judge stated that while cryptocurrencies “are neither tangible property nor currency,” they “are a form of property that can be enjoyed and owned beneficially.” This ruling establishes the legal status of crypto assets as property and stipulates that assets held by exchanges must be regarded as client trust property. The court also rejected WazirX's argument that its Singapore court-approved restructuring automatically binds Indian users. Currently, users have only received 30% of the expected funds.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
XRP Ledger Contributes Over 15% of Global On-Chain Tokenized Commodities, Impressive Value Growth
On March 12, the latest data shows that XRP Ledger (XRPL) accounts for over 15% of the global on-chain tokenized commodities market, ranking second globally. Despite the overall poor price performance of cryptocurrencies this year, the practical applications of tokenized commodities continue to grow, with XRPL benefiting significantly.
GateNews10m ago
XRP Price Drops 45% While Spot ETF Still Holds $971 Million AUM, CEO Says Investor Confidence Unchanged
Despite XRP spot price declining 45%, Ripple's XRP ETF assets remain stable at $971 million, demonstrating strong market demand for XRP. CEO Garlinghouse believes this reflects institutional investor confidence, with the ETF experiencing no significant redemptions amid volatility and maintaining robust asset allocation strategies. Analysts note that stable ETF assets may support a future XRP price recovery.
GateNews14m ago
Ripple Announces $750 Million XRP Buyback Plan; Can Token Price Break Out of Consolidation Range?
Ripple announces a $750 million XRP buyback program to boost market confidence in XRP price. On-chain data shows exchange XRP reserves have fallen to a 10-month low, suggesting long-term holding by investors. Technical analysis indicates XRP has modest upside potential, and the buyback program combined with supply tightening may serve as price support factors. Investors should pay attention to broader market changes.
GateNews30m ago
XRP whale increases holdings by 110 million tokens in March, exchange reserves hit nearly four-year lows, and the price range may point to $4
As of March 2026, the XRP price is approximately $1.38, with a market capitalization of $84 billion, down 61% from its all-time high. Despite small market fluctuations, on-chain data indicates significant accumulation by whales, while exchange XRP reserves have dropped to new lows. Ripple's collaborations with institutions have not directly boosted the price, but the expansion of stablecoin infrastructure may bring new opportunities to the XRP ecosystem. Technical indicators show bullish signals, with an expected XRP price range between $1.40 and $3.00 in 2026.
GateNews50m ago
Why XRP Price Feels So Dead Right Now (And When That Changes)
If you have been watching XRP lately, you know the feeling. The price moves, but it goes nowhere. One day it jumps to $1.45. The next day it falls back to $1.35. Then it repeats.
It is one of the most boring price actions in the entire crypto market right now. XRP has been stuck in this
CaptainAltcoin1h ago
