The Madras High Court has held that digital assets qualify as “property" under Indian law and are capable of being held in trust.

The court further ruled that user assets, which were not affected by a cyberattack on the WazirX exchange operated by Zanmai Labs Pvt. Ltd., could not be frozen or adjusted to offset the platform’s losses.

Justice N. Anand Venkatesh passed the order on October 25 in Rhutikumari vs. Zanmai Labs Pvt. Ltd. and others case, while dealing with an application filed under Section 9 of the Arbitration and Conciliation Act, 1996.

The applicant, Rhutikumari, sought an injunction restraining the WazirX exchange and its directors from interfering with her cryptocurrency holdings of 3,532.30 XRP coins stored on the platform.

The applicant told the court that she had inve

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