A major storm in India's crypto market has officially escalated to the courts. WazirX founder Nischal Shetty recently confirmed that the tug-of-war with a leading exchange over control has reached the stage of formal litigation.

Looking back at the background: as early as 2019, that leading exchange announced the acquisition of WazirX, and the industry generally viewed this integration positively. But no one expected that in the following years, both sides would repeatedly clash over control and operational rights, evolving from private negotiations to public disputes.

In a recent statement, Shetty revealed that now both parties are "each sticking to their own reasons," and their positions are difficult to reconcile. He emphasized that the outcome of the lawsuit will significantly impact WazirX's future direction.

This dispute reflects the complexity of mergers and acquisitions in the crypto industry—after capital enters, founders and investors often have disagreements over development directions and decision-making power. In an uncertain regulatory environment, such conflicts are more likely to be intensified and prolonged.