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WazirX's Restructuring Scheme Approved by Over 93 Percent Creditors, Refunds to Start Soon
WazirX's proposed restructuring scheme has been approved by majority voters, Zettai announced on Monday, April 7. Zettai stated that 141,476 creditors took part in the voting process out of which 131,659 creditors approved the scheme.
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WazirX Partners With BitGo for Asset Custody Services Amid Ongoing Financial Restructuring
On Wednesday, March 12, WazirX announced BitGo as its official asset custodian. Through this partnership, WazirX will leverage BitGo’s institutional-grade infrastructure, multi-signature wallets, and insurance coverage of up to $250 million (approximately Rs. 2,180 crore) to restore community trust.Â
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WazirX Says Asset Rebalancing Complete, Invites Creditors to Raise Disputes
On February 10, WazirX announced the completion of its Net Liquid Platform Assets (NLPA) rebalancing, aligning token denominations with its assets and liabilities. The exchange has introduced three new tabs on its app and website, allowing users to view their rebalanced portfolio, their balance as of July 18, 2024, and the preliminary creditor list...
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WazirX Tells Creditors to Approve Restructuring Scheme or Wait Till 2030 for Refunds
WazirX said if a majority of creditors vote against the scheme, they could have to wait for up to five years to get compensated for the funds they lost in the July 2024 hack. A company spokesperson told Gadgets 360 that the exchange plans to start the voting process by the end of February or early March.
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Singapore Court Approves WazirX’s Financial Restructuring Plan, Creditors to Vote Next
The Singapore High Court has approved WazirX's financial restructuring scheme, contingent on at least 75 percent of creditors voting in favour. If approved, WazirX will initiate the reimbursement process within ten business days of the scheme's effective date.
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CoinSwitch Announces Rewards-Backed Initiative for WazirX Users to Recover Around Rs. 600 Crore
CoinSwitch has announced a recovery programme for distressed WazirX users. The plan is estimated to help WazirX users recover at least Rs. 600 crore over a period of two years. Meanwhile, WazirX is preparing to present its restructuring plan in a Singapore court on January 22, after which it plans to extend the proposal to its creditors.
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WazirX Restructuring Plan Heads to Court in January; Risk of Liquidation If Rejected
Zettai stated that it is awaiting Singapore Court approval to present its restructuring plan to creditors. It added that if the plan is not approved, WazirX’s only remaining option would be liquidation.
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WazirX Hack: Zettai Requests Court Approval to Present Restructuring Plan for Creditor Vote
Zettai announced that it has filed an application with the court seeking permission to convene a meeting with its creditors. The meeting aims to present a proposed restructuring scheme and secure creditor approval through a vote.
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WazirX's Nischal Shetty Aims to Build India's Largest Decentralised Exchange Within 12 Months
This week, WazirX hosted a virtual town hall where founder Nischal Shetty shared that he is considering launching a decentralised exchange (DEX) to complement the existing WazirX platform. According to Shetty, a DEX could help mitigate the risks associated with centralised exchanges.
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WazirX, Government Officials Meet Amid Probe Into Rs 2,000 Crore Crypto Hack: Report
Cryptocurrency exchange WazirX, which suffered a massive Rs 2,000 crore (about $234 million) cyber theft in July, is now facing scrutiny from top government agencies in the country.
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WazirX to Form Committee of Creditors by October 9 Amidst Restructuring Plans
WazirX has announced that it is in the process of forming a ‘Committee of Creditors (COC)’. In a blog post published on October 2, WazirX claimed that it aims to bridge the communication gap with its creditors.
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WazirX’s Moratorium Appeal Gets Four Months' Time from Singapore Court, Here’s What it Means
A Singapore court has granted WazirX a four-month moratorium period to complete its financial restructuring. In a press note released by the exchange on Thursday, September 26 it said that this action paves way for a legally binding resolution to restore WazirX’s crypto balances.
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WazirX’s Moratorium Plan Backed by Just 441 Users Amidst Widespread Social Media Backlash
In a recent affidavit, WazirX informed its users that only 441 have backed the moratorium appeal filed by its majority stakeholder, Zettai, in a Singapore court. WazirX also disclosed to Gadgets360 that it currently has two million monthly active users.
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WazirX Hacker Moves Millions Worth of ETH Using Tornado Cash, Suggests Arkham Research
Data collected by Arkham Research showed that the hacker who exploited the WazirX wallet for over $230 million (roughly Rs. 1,900 crore) is using the controversial Tornado Cash platform to do so. The exchange said it is working with law enforcement agencies and the CERT-In to identify the hacker.
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WazirX's Nischal Shetty Asks Users to Withdraw Available Funds as Full Recovery Unlikely
Nischal Shetty, co-founder of WazirX, informed Gadgets360 that individuals in urgent need of funds have begun withdrawing their INR balances from the platform. Officials also said that users affected by the recent hack may face challenges in recovering approximately 43 percent of the funds they had stored on WazirX.
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WazirX's Restructuring Scheme Approved by Over 93 Percent Creditors, Refunds to Start Soon
WazirX's proposed restructuring scheme has been approved by majority voters, Zettai announced on Monday, April 7. Zettai stated that 141,476 creditors took part in the voting process out of which 131,659 creditors approved the scheme.
-
WazirX Partners With BitGo for Asset Custody Services Amid Ongoing Financial Restructuring
On Wednesday, March 12, WazirX announced BitGo as its official asset custodian. Through this partnership, WazirX will leverage BitGo’s institutional-grade infrastructure, multi-signature wallets, and insurance coverage of up to $250 million (approximately Rs. 2,180 crore) to restore community trust.Â
-
WazirX Says Asset Rebalancing Complete, Invites Creditors to Raise Disputes
On February 10, WazirX announced the completion of its Net Liquid Platform Assets (NLPA) rebalancing, aligning token denominations with its assets and liabilities. The exchange has introduced three new tabs on its app and website, allowing users to view their rebalanced portfolio, their balance as of July 18, 2024, and the preliminary creditor list...
-
WazirX Tells Creditors to Approve Restructuring Scheme or Wait Till 2030 for Refunds
WazirX said if a majority of creditors vote against the scheme, they could have to wait for up to five years to get compensated for the funds they lost in the July 2024 hack. A company spokesperson told Gadgets 360 that the exchange plans to start the voting process by the end of February or early March.
-
Singapore Court Approves WazirX’s Financial Restructuring Plan, Creditors to Vote Next
The Singapore High Court has approved WazirX's financial restructuring scheme, contingent on at least 75 percent of creditors voting in favour. If approved, WazirX will initiate the reimbursement process within ten business days of the scheme's effective date.
-
CoinSwitch Announces Rewards-Backed Initiative for WazirX Users to Recover Around Rs. 600 Crore
CoinSwitch has announced a recovery programme for distressed WazirX users. The plan is estimated to help WazirX users recover at least Rs. 600 crore over a period of two years. Meanwhile, WazirX is preparing to present its restructuring plan in a Singapore court on January 22, after which it plans to extend the proposal to its creditors.
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WazirX Restructuring Plan Heads to Court in January; Risk of Liquidation If Rejected
Zettai stated that it is awaiting Singapore Court approval to present its restructuring plan to creditors. It added that if the plan is not approved, WazirX’s only remaining option would be liquidation.
-
WazirX Hack: Zettai Requests Court Approval to Present Restructuring Plan for Creditor Vote
Zettai announced that it has filed an application with the court seeking permission to convene a meeting with its creditors. The meeting aims to present a proposed restructuring scheme and secure creditor approval through a vote.
-
WazirX's Nischal Shetty Aims to Build India's Largest Decentralised Exchange Within 12 Months
This week, WazirX hosted a virtual town hall where founder Nischal Shetty shared that he is considering launching a decentralised exchange (DEX) to complement the existing WazirX platform. According to Shetty, a DEX could help mitigate the risks associated with centralised exchanges.
-
WazirX, Government Officials Meet Amid Probe Into Rs 2,000 Crore Crypto Hack: Report
Cryptocurrency exchange WazirX, which suffered a massive Rs 2,000 crore (about $234 million) cyber theft in July, is now facing scrutiny from top government agencies in the country.
-
WazirX to Form Committee of Creditors by October 9 Amidst Restructuring Plans
WazirX has announced that it is in the process of forming a ‘Committee of Creditors (COC)’. In a blog post published on October 2, WazirX claimed that it aims to bridge the communication gap with its creditors.
-
WazirX’s Moratorium Appeal Gets Four Months' Time from Singapore Court, Here’s What it Means
A Singapore court has granted WazirX a four-month moratorium period to complete its financial restructuring. In a press note released by the exchange on Thursday, September 26 it said that this action paves way for a legally binding resolution to restore WazirX’s crypto balances.
-
WazirX’s Moratorium Plan Backed by Just 441 Users Amidst Widespread Social Media Backlash
In a recent affidavit, WazirX informed its users that only 441 have backed the moratorium appeal filed by its majority stakeholder, Zettai, in a Singapore court. WazirX also disclosed to Gadgets360 that it currently has two million monthly active users.
-
WazirX Hacker Moves Millions Worth of ETH Using Tornado Cash, Suggests Arkham Research
Data collected by Arkham Research showed that the hacker who exploited the WazirX wallet for over $230 million (roughly Rs. 1,900 crore) is using the controversial Tornado Cash platform to do so. The exchange said it is working with law enforcement agencies and the CERT-In to identify the hacker.
-
WazirX's Nischal Shetty Asks Users to Withdraw Available Funds as Full Recovery Unlikely
Nischal Shetty, co-founder of WazirX, informed Gadgets360 that individuals in urgent need of funds have begun withdrawing their INR balances from the platform. Officials also said that users affected by the recent hack may face challenges in recovering approximately 43 percent of the funds they had stored on WazirX.
