Cryptocurrency exchange WazirX has announced significant user support for its restructuring scheme, which will return 85% of crypto portfolios after a recent hack.
Voting Results of WazirX Users
In a week-long voting process, 93.1% of 141,476 users voted to support the restructuring scheme, with total claims amounting to over $184.9 million.
Approval Process and Next Steps
The voting was conducted on the Kroll Issuer Services platform from March 19 to March 28. Under Singapore law, at least 50% of creditors by count and 75% by value must approve the scheme. Zettai's proposal passed both requirements.
User Support and Future Plans
WazirX founder Nischal Shetty expressed gratitude for user support, noting it reflects confidence in their restructuring plans. The next steps include filing for formal court approval in Singapore.
With user support in hand, WazirX is on the path to recovery and resuming operations, which is a positive sign for all affected by the incident.
