India, March 28 -- The National Consumer Disputes Redressal Commission (NCDRC) declined to entertain a plea of a group of investors of WazirX who claim to have suffered losses due to the $234 Mn cryptocurrency hack at the crypto exchange.

In an order dated March 13, the consumer forum said that "the legality and the nature of the transactions are still not regulated to the extent as required" in the country and therefore conducting investigation into the illegalities of the matter "does not seem to be amenable to this jurisdiction".

Aman Rehaan Khan, the advocate representing the complainants, told Inc42 that they plan to move the Supreme Court.

"We plan to take this matter to the Supreme Court and seek recovery of lost funds and crimi...