Indian court protects XRP holders' assets, prohibits exchanges from reallocating user tokens.

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[Coin World] The Madras High Court in India has approved a temporary protection for a holder of Ripple (XRP) in a lawsuit against a certain exchange, prohibiting the exchange from reallocating the user's 3,532 Ripple (9,400 USD) to compensate for the platform losses caused by a $230 million loophole on July 2, 2024. The court ruled that cryptocurrencies are considered property and noted that the exchange's “socialization of losses” plan does not apply to Ripple holders, as the stolen assets are ERC-20 Tokens. During arbitration, the exchange must provide a bank guarantee or escrow deposit of 956,000 Rupees (11,500 USD).

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0xSunnyDayvip
· 10-27 10:10
Isn't it too difficult to protect rights through the courts?
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MoonRocketTeamvip
· 10-27 10:10
No coin, but we have to hold on and get rekt.
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TokenSleuthvip
· 10-27 09:57
Reliable, this judge.
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PuzzledScholarvip
· 10-27 09:47
The Indian court truly has insight.
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BottomMisservip
· 10-27 09:41
With such a small amount of xrp, you're still defending it so vigorously.
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