India's leading crypto platform, WazirX, is under scrutiny for delaying the return of crypto assets as part of its restructuring plan following a major cyberattack.
WazirX Announcement
WazirX has announced that all crypto deposits made after the cyberattack will be held until fund distributions commence. The management has linked their release to a broader restructuring plan.
User Reaction
Many users expressed dissatisfaction and distrust towards WazirX's decisions. Some accused the exchange of lacking transparency and failing to provide actionable updates.
Delay in Fund Returns
The exact timeline for fund returns remains undefined. Exchange representatives state that post-hack deposits will be returned in the same token denominations, 'to the extent possible,' only after the 'Effective Scheme Date.'
Users continue to await a resolution, facing uncertainty regarding the return of their funds. The situation leaves many questions and discussions for the future.
