Cryptocurrency exchange WazirX will conduct voting among its 4.4 million users on the Kroll Information Services (KIS) platform from March 19 to 28. The voting aims to approve a redistribution scheme post the 2000 crore hack last year.
Announcement of Voting
The announcement was made by WazirX management during a townhall session broadcasted on YouTube on Wednesday evening. It was explained that the voting results will be announced on April 11, 2025. The Singapore Court overseeing the redistribution application of Zettai Pte Ltd, the parent company of WazirX, instructed them to use an independent platform for voting to ensure fairness.
Kroll’s Role and Voting Process
Kroll is the legal firm hired by WazirX to settle creditors' claims following the suspension of the exchange for the past 7 months. The voting will be conducted exclusively on the Kroll platform to ensure security and fairness.
Independent Assessment and Result Declaration
Following the week-long voting, an independent assessment will be conducted by Alvarez and Marsal (A&M). The timeframe for independent assessment of the voting is from April 1-8, after which the results will be declared on April 11, 2025.
The voting is a crucial step towards approving the redistribution scheme. The independent audit provides additional oversight and confidence in the process.
