This Crypto CEO Pulled a Houdini After a $250M Heist—Then Gave It All to His Wife 🤔

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Here’s a tale for the ages, or at least for the next time you need to scare your money straight. Nearly a year has passed since ₹2,000 crore (if you’re not fluent in Crorepati: $250 million-ish) in user funds sauntered off into the void during the WazirX hack—a hack so audacious it makes Ocean’s Eleven look like toddlers pinching sweets. In the eye of the digital storm is Nischal Shetty, who has managed to remain so silent you’d think he’d discovered the “Mute Entire Life” button. 🕵️‍♂️

If you thought things were finally calming down, bad news: just weeks post-hack, on August 13, 2024, it emerged that Nischal transferred—nay, yeeted—100% ownership of Shinjuku FZC LLC (one of those crypto holding companies with a name that sounds like sushi and a Bond villain’s lair) to his wife, Moujhari Guha. Not 10%, not 50%, but the whole enchilada. 🍣🕶️

There were no press conferences, grand proclamations, or ritualistic throwing of confetti. Nischal’s shareholding? Reduced with the mathematical precision of a Swiss watch: exactly 0.00%. A subtle vanishing act—silent enough that you could have heard a crypto investor sobbing in the distance.

Was there a public disclosure? Did the users get a nice email with lots of exclamation marks? No, no, and thrice no. Silence. Absolute, premium-grade, noise-cancelling silence—while users bandaged their wounds and tried working out how not to faint in front of a blinking wallet app.

Remember the “transparency and trust” banners? The earnest talks? Yeah, so do I. Turns out those were more like suggestions than actual commitments. As the ₹2,000 crore vanished, our hero Nischal did not so much “stand strong” as perform a particularly elaborate interpretive dance out the exit.

But this was no garden-variety “moving some chairs on the Titanic” maneuver. August 2024 should be renamed “Oh-no-you-didn’t,” as this whole handover took place at the precise moment users were panicking, wallets frozen, and everyone hoping Nischal would show up with answers. Instead, he reappeared with a pen and quietly handed over the entire company.

The paper trail, immortalized in The Gulf Time on August 14, 2024, spells it out:

  • Previous shareholder: Nischal Chakrapani Shetty – 0.00% shares (even Microsoft Paint gives you more percentage in the color wheel)
  • New shareholder: Moujhari Guha – 100.00% shares (bet that made dinner conversation interesting)

Shinjuku FZC LLC—licensed in the esteemed financial metropolis of Ajman, UAE—has been forever tied to WazirX. One wonders: why the radio silence? Why not pop a confetti cannon and yell “Surprise!”? Why hide a business handover like it’s the world’s saddest birthday party? 🎂

But hang on, we’re just warming up.

Enter stage right: Justice Kristy Tan of the Singapore court, holding receipts and not afraid to use them. She dusted off a document showing Zettai Pte. Ltd.—WazirX’s Singapore alter ego—was indeed holding user assets like a digital Fort Knox. Which flies directly in the face of WazirX’s months-long “no, we totally don’t have your money” routine.

Justice Tan’s ruling points out—with all the subtlety of a brick—how WazirX misled users after the hack: delays, dodges, reality-bending PR, while users watched their portfolios disintegrate into the ether.

And where is Nischal Shetty? Dubai, naturally—the international capital of “Sorry, I can’t hear you over my infinity pool.” No police door-knocking. No press tours with tears and remorse. One of the messiest crypto blow-ups, and not a single public reckoning.

Meanwhile, user funds remain locked tighter than a Victorian corset, with no recovery in sight. No updates. No plan. No glimmer of hope, unless you count “wishing on a falling blockchain” a plan.

So as months pass and more secrets spill out like coins from a broken piggy bank, the Nischal Shetty saga morphs from a “tech startup oopsie” to a wild story of creative paper-shuffling, world-class avoidance, and ongoing denial.

Oh, and because life is satire, Nischal is busily building another crypto project called ‘Shardeum’—because nothing says “accountability” like starting a sequel before the first story’s refund credits roll. Users can only watch as he launches SHM Party events and partners with MEXC, like nothing burned behind him except the smell of evaporated rupees. 🥳🔥

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2025-06-27 10:52