WazirX, a leading Indian crypto exchange, is under investigation after a $235 million hack in July 2024. Government agencies, including the Financial Intelligence Unit (FIU), Intelligence Bureau (IB), and CERT-In, are probing how the breach occurred and its impact on retail investors. The founders met with officials to share transaction details and investigate the possibility of an inside job, though no foul play has been detected. The hack highlights vulnerabilities in India's largely unregulated crypto market, prompting broader scrutiny from authorities to strengthen security measures and protect users.