WazirX News: The Indian crypto exchange that got hacked harder than my high school email account is finally making moves. After last year’s cyber attack, WazirX is pushing forward with a debt restructuring plan that’s getting more votes than a Taylor Swift concert. On April 7, the CEX approved the Scheme of Arrangement proposed by its parent company, Zettai Pte Ltd. This plan, filed with the Singapore High Court, aims to recover user funds lost in the attack. Because apparently, even crypto exchanges need a financial therapist. 💸
According to an official release, Zettai’s Scheme of Arrangement has been getting more love than a viral cat video. In a voting session on the Kroll Issuer Services platform from March 19 to March 28, 93.1% of voting creditors, representing 94.6% in value, said YES to the scheme. That’s more support than my mom gives me when I tell her I’m “working from home.”
In total, 141,476 creditors cast their votes, and 131,659 of them voted FOR the motion. That’s a lot of people agreeing on something, which is rarer than a unicorn in a suit. 🦄
CEX Founder Voices Optimism
Nischal Shetty, the founder of WazirX, said, “We are grateful for the strong vote of confidence. This consistent support across our entire base demonstrates shared belief in our restructuring approach and recovery plan.” He also added that all votes were independently verified by Independent Assessors. Because nothing says “trust us” like a third-party audit. 🕵️♂️
What Are The Next Steps In the Fund Recovery Plan?
“With the verified voting results, the next step is sanction by the Singapore Court,” WazirX revealed. Zettai is ready to file an application with the Singapore High Court to get the scheme sanctioned. Once that’s done, users can expect the first batch of funds within 10 business days. Withdrawals and trading will resume in phases, because apparently, even crypto needs to follow rules. Who knew? 🤷♀️
After nearly a year of waiting, WazirX’s users are finally set to recover their lost funds. It’s like finding money in your winter coat pocket, but with more legal paperwork. 🎉
Read More
- Top 8 UFC 5 Perks Every Fighter Should Use
- Unaware Atelier Master: New Trailer Reveals April 2025 Fantasy Adventure!
- Unlock the Magic: New Arcane Blind Box Collection from POP MART and Riot Games!
- How to Reach 80,000M in Dead Rails
- Unlock Roslit Bay’s Bestiary: Fisch Fishing Guide
- How to Unlock the Mines in Cookie Run: Kingdom
- Toei Animation’s Controversial Change to Sanji’s Fight in One Piece Episode 1124
- 8 Best Souls-Like Games With Co-op
- Top 7 Tifa Mods for Final Fantasy 7 Rebirth
- The White Rabbit Revealed in Devil May Cry: Who Is He?
2025-04-07 19:32