PANews reported on October 27th, according to Decrypt, that an Indian court has ruled that cryptocurrencies are legally considered property. Last Friday, the Madras High Court prohibited WazirX, India's largest crypto exchange, from redistributing 3,532 XRP tokens held by a customer to offset losses from the $234 million hack of the platform last July. Judge N.N. Anand Venkatesh ruled that the user's XRP tokens, purchased in January and unaffected by the incident, could not be diluted under the exchange's "socialization of losses" plan. The ruling also established that assets held by the exchange for safekeeping must be considered customer property held in trust. The court rejected WazirX's "socialization of losses" plan, which proposed to distribute the $234 million loss proportionally among all users, likening it to "group insurance for self-help groups." The judge also rejected WazirX's argument that its restructuring, approved by a Singapore court, was automatically binding on Indian users. The ruling came the same day WazirX resumed operations after receiving approval from 95.7% of its creditors. As of now, users have received only 30% of their expected funds due to account locks and customer verification delays.