A recent post by anonymous Twitter user @toofaanarmy alleges that one of India’s top crypto exchanges, Wazirx, had transferred 55.25 million XRP (rated at around 1,500 crores) to Vinance and other wallets just before requesting 2,000 hacks between February 2023 and July 2024.
The tweet claims that XRP originated from a tagged wallet rppbi1inxmvy9hmj9sh9g4gxvgvefn4nazcausing fear of insider foul plays and hidden activities.
Users imply that these massive pre-hack forwarding is suspicious and could be related to the aftermath of Wazirx exploits.
Coinpedia Fact Check: Wazirx CEO answers
To verify the claim, Coinpedia contacted Wazirx CEO Nischal Shetty.
User activity rather than extraordinary forwarding
According to Shetty, XRP transfers were part of normal user withdrawals and deposits. Users usually move their funds to exchange funds to where they have their accounts, and such movements are standard in crypto exchange businesses.
Cold wallet integration was underway
He said Wajirux has long followed the practice of integrating tokens into cold wallets for security, and this activity is new or not uncommon. The wallet in question was published on Wazirx’s spare proof page when the platform was active.
The post-hack movement has been disclosed
In advance, some assets were transferred to Bitgo with some exchanges for storage. These were disclosed, and token balances were independently evaluated and shared with the court and all affected parties.
No direct binance forwarding confirmed
Shetty said she is addressing certain points about benance.
“We don’t have an account with Binance so we don’t send tokens there. If there are any specific on-chain transactions, please be happy to check it out.”
Conclusion
At this stage, the wallet movement in question has been publicly recognized by Wazirx, and the exchange claims that they are routine and transparent. This claim remains unverified and no direct on-chain evidence is provided to establish irregularities.
