WazirX, a cryptocurrency exchange in India, has been accused of transferring $75 million in user assets to international exchanges such as Bybit and KuCoin. This allegation comes from Ashish Singhal, co-founder of the rival Indian exchange, CoinSwitch.

The accusation surfaced following a cyber attack in July 2024, which increased scrutiny on WazirX's activities and transactions. Singhal's concerns highlight potential implications for user trust and regulatory oversight in India.

The incident underscores the importance of transparency and security within cryptocurrency platforms to maintain user confidence and industry integrity in India and globally.