The WazirX hack resulted in the theft of over $230 million. Amidst this crisis, the platform has announced plans to distribute funds to affected creditors.
Details of the Hack
In early 2024, WazirX was the target of a hack leading to the theft of over $230 million. Users have been left uncertain for months, awaiting resolution.
Recovery Efforts
WazirX has announced plans to distribute funds to creditors through a restructuring scheme, pending court approval. A creditors' meeting is set for the 22nd, marking a crucial step in the process.
Future of WazirX
Following the initial distribution of assets, WazirX plans to reactivate its platform and launch a decentralized exchange (DEX) post-restructuring scheme approval. These initiatives aim to maximize recoveries for creditors.
While the recovery path remains lengthy, WazirX is dedicated to resolving the issues and restoring creditors' access to their funds.
