WazirX Users Vote for Restructuring After Major Cyber Attack

Cryptocurrency platform WazirX's parent company, Zettai Pte, reports that 93% of users affected by a USD 230 million cyber attack have voted for a restructuring plan. The plan aims to expedite asset recovery and resume operations pending Singapore High Court approval.

In response to a massive cyber attack, WazirX's parent company, Zettai Pte, reported that 93% of affected cryptocurrency users have voted for a restructuring plan. This initiative seeks to recover USD 230 million in lost assets and resume platform operations.

The restructuring plan, contingent upon approval from the Singapore High Court, outlines a structured approach to reorganizing liabilities linked to the platform. It includes issuing recovery tokens and launching new trading capabilities, such as a decentralized exchange.

Nischal Shetty, Founder of WazirX, expressed gratitude for the overwhelming support, indicating strong confidence in the recovery strategy. Once court-approved, the plan will allow phased resumption of platform activities and asset withdrawals, adhering to regulatory standards.

(With inputs from agencies.)