The voting process for the WazirX crypto platform concludes today, having begun on March 19. This step will be crucial for its 4.4 million users as the vote's outcome will shape the platform's future restructuring.
WazirX User Voting
The voting process involving 4.4 million WazirX users ends today at 6 PM IST. The platform has warned that rejecting the restructuring proposals could lead to further suspension of funds, which have been inaccessible for over 9 months. After the voting ends, there will be a three-day gap before a third-party auditor begins assessing the votes. The results will be announced on April 8.
Users' Legal Actions
In light of ongoing issues with fund accessibility, users are actively seeking legal recourse. The National Consumer Disputes Redressal Commission in India has dismissed several complaints from users. Previously, users approached the Delhi and Kerala High Courts and are now considering moving to the Supreme Court.
Outstanding Fund Security Issues
The primary concern remains ensuring the security of user funds. WazirX has pledged to return 85% of users' portfolios should the restructuring plan be approved, providing relief to some users locked out of their funds.
As the voting deadline approaches, the question remains: will this vote be the turning point for WazirX users, or is it too little, too late?
