Chennai, India — In a paradigm-shifting judgment that reshapes how India’s legal system views digital assets, the Madras High Court has ruled that cryptocurrencies qualify as property under Indian law. The verdict, delivered by Justice N. Anand Venkatesh, establishes that while cryptocurrencies cannot be considered legal tender, they are nonetheless assets capable of ownership, transfer, and legal protection.
Investor’s Petition Leads to Legal Precedent
The case began when an investor approached the court after her 3,532.30 XRP tokens, valued at around ₹1.98 lakh, were frozen by the cryptocurrency exchange WazirX following a major cyberattack in July 2024.
The breach targeted Ethereum and ERC-20 tokens, resulting in an estimated loss of $230 million (approximately ₹1,900 crore) and prompted the platform to impose a blanket freeze on user accounts.
The petitioner argued that her XRP holdings were unrelated to the hacked tokens and should not be subject to the same restrictions. She sought relief under Section 9 of the Arbitration and Conciliation Act, 1996, requesting that Zanmai Labs Pvt. Ltd., the Indian operator of WazirX, be restrained from redistributing or reallocating her digital assets during the ongoing restructuring process.
Zanmai Labs contended that its Singapore-based parent company, Zettai Pte Ltd, was undergoing a court-supervised restructuring that required all users to share losses collectively. However, the High Court rejected this defense, observing that the petitioner’s assets were distinct from the ERC-20 tokens involved in the hack.
Justice Venkatesh ruled that the exchange could not impose collective loss-sharing on unrelated digital assets, noting that “the tokens affected by the cyberattack were ERC-20 coins, which are entirely different from the petitioner’s XRP holdings.”
Court’s Stance: Cryptocurrency as Property
In his judgment, Justice Venkatesh explained that although cryptocurrencies are intangible and do not function as physical goods or official currency, they meet the legal definition of property.
He stated that these assets “can be enjoyed, possessed, and even held in trust,” reinforcing their capability of ownership and protection under law.
To support this interpretation, the court referred to Section 2(47A) of the Income Tax Act, which classifies cryptocurrencies as Virtual Digital Assets (VDAs). This legal category recognizes digital tokens as taxable and transferable assets, strengthening the basis for treating them as property under Indian statutes.
Jurisdiction and Legal Authority
Addressing the question of jurisdiction, the High Court noted that Indian courts have the authority to protect assets located within the country, even if international proceedings are underway. Justice Venkatesh cited the Supreme Court’s 2021 ruling in PASL Wind Solutions v. GE Power Conversion India, which affirmed that Indian courts retain the right to intervene in matters involving domestic assets despite foreign arbitration.
Since the petitioner’s crypto transactions were initiated in Chennai and linked to an Indian bank account, the Madras High Court asserted complete jurisdiction to hear the dispute.
Beyond resolving the individual case, Justice Venkatesh emphasized the urgent need for robust regulatory and governance frameworks for India’s cryptocurrency ecosystem.
The judgment recommended several safeguards to protect users and maintain market integrity, including:
• Independent audits of cryptocurrency exchanges,
• Segregation of customer funds from company finances, and
• Stronger KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance mechanisms.
The court underlined that as India transitions toward a Web3-driven economy, accountability, transparency, and investor protection must remain central to digital asset governance.
Impact on India’s Crypto Industry
Legal and financial experts view the judgment as a turning point in India’s treatment of digital assets.
By recognizing cryptocurrencies as property, the ruling gives investors a clearer legal foundation for ownership rights and judicial remedies in case of disputes. It also urges exchanges to improve corporate governance and adopt transparent practices when managing customer funds.
“This verdict brings long-needed clarity,” said a corporate lawyer specializing in digital finance. “It does not make crypto legal tender, but it ensures that investors’ holdings are legally recognized as assets, something the Indian market has lacked.”
The decision is expected to influence future policy discussions surrounding the Digital India Act and the government’s Virtual Digital Asset Taxation framework, both of which are likely to define how crypto businesses and investors operate in the country.
A Legally Secure Digital Future
By aligning India’s legal reasoning with international trends, the Madras High Court has placed the judiciary at the forefront of global crypto jurisprudence. Similar to rulings in the UK, Singapore, and the United States, this decision formally acknowledges that cryptocurrencies hold measurable economic value and are capable of legal protection.
While the ruling does not alter the Reserve Bank of India’s stance that cryptocurrencies are not legal currency, it does mark a decisive step toward legal maturity in digital asset regulation.
It signals a future where blockchain-based assets will coexist within a structured legal framework, allowing innovation and investor protection to advance together.
The modern internet, though vast and advanced, remains surprisingly delicate. A minor technical fault or human error can disrupt millions of users worldwide, revealing how dependent our lives have become on digital systems.
On October 20, 2025, a technical error in a database service operated by Amazon Web Services (AWS) caused widespread outages across several online platforms. AWS, one of the largest cloud computing providers globally, hosts the infrastructure behind thousands of popular websites and apps. As a result, users found services such as Roblox, Fortnite, Pokémon Go, Snapchat, Slack, and multiple banking platforms temporarily inaccessible. The incident showed how a single malfunction in a key cloud system can paralyze numerous organizations at once.
Such disruptions are not new. In July 2024, a faulty software update from cybersecurity company CrowdStrike crashed around 8.5 million Windows computers globally, producing the infamous “blue screen of death.” Airlines had to cancel tens of thousands of flights, hospitals postponed surgeries, and emergency services across the United States faced interruptions. Businesses reverted to manual operations, with some even switching to cash transactions. The event became a global lesson in how a single rushed software update can cripple essential infrastructure.
History provides many similar warnings. In 1997, a technical glitch at Network Solutions Inc., a major domain registrar, temporarily disabled every website ending in “.com” and “.net.” Though the number of websites was smaller then, the event marked the first large-scale internet failure, showing how dependent the digital world had already become on centralized systems.
Some outages, however, have stemmed from physical damage. In 2011, an elderly woman in Georgia accidentally cut through a fiber-optic cable while scavenging for copper, disconnecting the entire nation of Armenia from the internet. The incident exposed how a single damaged cable could isolate millions of users. Similarly, in 2017, a construction vehicle in South Africa severed a key line, knocking Zimbabwe offline for hours. Even undersea cables face threats, with sharks and other marine life occasionally biting through them, forcing companies like Google to reinforce cables with protective materials.
In 2022, Canada witnessed one of its largest connectivity failures when telecom provider Rogers Communications experienced a system breakdown that halted internet and phone services for roughly a quarter of the country. Emergency calls, hospital appointments, and digital payments were affected nationwide, highlighting the deep societal consequences of a single network failure.
Experts warn that such events will keep occurring. As networks grow more interconnected, even a small mistake or single-point failure can spread rapidly. Cybersecurity analysts emphasize the need for stronger redundancy, slower software rollouts, and diversified cloud dependencies to prevent global disruptions.
The internet connects nearly every part of modern life, yet these incidents remind us that it remains vulnerable. Whether caused by human error, faulty code, or damaged cables, the web’s fragility shows why constant vigilance, better infrastructure planning, and verified information are essential to keeping the world online.
Then there’s the biggest expense: the average $4.4 million cost of a data breach. Business disruption and customer recovery drive this figure higher, with reputational damage alone averaging $1.47 million. In severe cases, companies have faced damages exceeding a billion dollars.
A growing number of companies are breaking free from these hidden costs by replacing legacy VPNs with software-defined mesh networks. When Cloudflare’s major outage hit in June, most of the internet went dark — except for organizations already using decentralized architectures. These companies continued operating seamlessly, having eliminated the single point of failure that traditional VPNs depend on.
According to the Cybersecurity Insiders 2025 VPN Exposure Report, 48% of businesses using VPNs have already suffered breaches. In contrast, alternatives like ZeroTier are quickly gaining ground. The company ended 2024 with over 5,000 paid accounts and now supports 2.5 million connected devices across 230 countries. Its consistent double-digit quarterly revenue growth shows that enterprises are embracing change — and backing it financially.
Organizations shifting away from VPNs aren’t just improving security — they’re gaining a cost advantage. Traditional VPNs were designed for small, centralized teams in the 1990s. Today’s global workforce spans continents, cloud platforms, and contractors. That single-bridge network design now costs businesses in three key ways:
Operational Overhead: Multiple incompatible VPNs, recurring hardware replacements, and per-user fees that scale with headcount. IT teams spend excessive time on access management instead of innovation.
Insurance Premiums: Legacy VPN users face 15–25% annual insurance increases as breach risks rise. Past incidents — from Colonial Pipeline to Collins Aerospace — show just how damaging VPN vulnerabilities can be.
Breach Exposure: Nearly half of VPN-dependent firms have already paid the breach price, suffering payroll halts, SLA penalties, and costly SEC disclosures.
The emerging alternative — software-defined mesh networking — works differently. Instead of channeling all traffic through one gateway, these systems create direct, encrypted peer-to-peer connections between devices.
ZeroTier’s approach illustrates this model well: each device gets a unique cryptographic ID, enabling secure, direct communication. A controller handles authentication, while data itself never passes through a centralized chokepoint.
“With Internet-connected devices outnumbering humans by a factor of three, the need for secure connectivity is skyrocketing,” says Andrew Gault, CEO of ZeroTier. “But most enterprises are paying a massive tax to legacy architectures that create more problems than they solve.”
When Cloudflare’s systems failed, organizations using these mesh networks remained online. Each device could access only what it needed, minimizing exposure even if credentials were compromised. And when scaling up, new locations or users are added through software configuration — not hardware procurement.
Companies like Metropolis, which operates checkout-free parking systems, are rapidly scaling from thousands to hundreds of thousands of devices — without new VPN hardware. Similarly, Forest Rock, a leader in building controls and IoT systems, leverages ZeroTier to manage critical endpoints securely. Energy firms and online gaming operators are following suit for scalable, secure connectivity.
These organizations aren’t burdened by licensing costs or hardware lifecycles. New hires are onboarded in minutes, and insurance providers are rewarding them with better rates, as their reduced attack surface leads to fewer breaches.
As more companies shed the cybersecurity tax, the competitive divide is widening. Those making the switch can reinvest savings into pricing, innovation, or expansion. Meanwhile, firms clinging to VPNs face escalating premiums and operational inefficiencies.
If a giant like Cloudflare — with world-class engineers and infrastructure — can suffer outages from a single failure point, what does that mean for companies still running multiple VPNs?
Modern cyber threats are only becoming more sophisticated, especially with AI-driven attack tools. The cost of maintaining outdated security infrastructure keeps climbing.
Ultimately, the question is no longer if organizations will transition to mesh networks, but when. The ones that act now will enjoy the cost and speed advantages — before their competitors do, or before a costly breach forces the decision.