Indian Court Blocks WazirX XRP Token Reallocation Following 2024 Security Breach

An Indian judicial authority has issued a restraining order against cryptocurrency exchange WazirX, preventing the platform from proceeding with its proposed redistribution of XRP tokens connected to a 2024 security incident. The court's intervention comes after concerns were raised about the legality and transparency of the exchange's asset reallocation strategy. This legal development marks a significant regulatory hurdle for WazirX as it attempts to manage the aftermath of the security compromise. Market observers are closely monitoring how this judicial decision will impact XRP's market position and broader cryptocurrency regulatory enforcement in India.