The July 2024 hack was catastrophic for WazirX. The exchange has since been trying to regain user trust, with recent Singapore court decisions shaping its next steps.
Nischal Shetty and WazirX Users' Reactions
Users expressed dissatisfaction with WazirX's proposed plan. They feel they have no choice in accepting partial asset recovery. WazirX founder Nischal Shetty has faced criticism for missing key court hearings and dismissive attitudes toward user concerns.
Issues with Singapore Restructuring Plan
The restructuring plan involves partial asset recovery in cryptocurrencies. However, users have no say in the deal, forced to choose between minimal returns and total losses.
Conclusion: Path to Regaining Trust
To regain trust, WazirX must be fully transparent and engage actively with users. This is crucial to reviving its reputation.
The question remains whether WazirX can overcome this crisis and reestablish itself as a reliable player in the crypto market.
