Crypto absurdity: WazirX plan to socialise losses deeply flawed

In the brave and hazy world of cryptocurrency, a telling sign of the high risk for investors is the clause of “force majeure”. WazirX, one of India’s biggest crypto exchanges with a user base of over 16 million, proffered “force majeure” — literally “greater force” and related to an act of God — as an explanation after hackers wiped off $230 million (nearly Rs 2,000 crore) from its reserves when one of its multi-signature wallets was compromised earlier this month. Many crypto platforms include the clause in the terms and conditions,