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Crypto Exchange WazirX Shares Recovery Roadmap after $235M Hack

WazirX is implementing a recovery plan under the Singapore Scheme of Arrangement to compensate users affected by the $235 million hack.

WazirX, the Indian crypto exchange that suffered a $235 million hack last year in July 2024, has charted a recovery path aimed at compensating the affected users. As per reports, the exchange built the restructuring plan under the supervision of Singapore’s legal system.

The firm also proposed a restructuring plan as per the Singapore Scheme of Arrangement. A Singapore Scheme of Arrangement is a court-sanctioned legal procedure that enables companies to restructure their debts and obligations. Besides, it will also allow WazirX to present a binding agreement with creditors, thereby facilitating a resolution and avoiding liquidation.

Crypto Exchange WazirX Shares Recovery Roadmap after $235M Hack

WazirX is implementing a recovery plan under the Singapore Scheme of Arrangement to compensate users affected by the $235 million hack.

WazirX, the Indian crypto exchange that suffered a $235 million hack last year in July 2024, has charted a recovery path aimed at compensating the affected users. As per reports, the exchange built the restructuring plan under the supervision of Singapore’s legal system.

The firm also proposed a restructuring plan as per the Singapore Scheme of Arrangement. A Singapore Scheme of Arrangement is a court-sanctioned legal procedure that enables companies to restructure their debts and obligations. Besides, it will also allow WazirX to present a binding agreement with creditors, thereby facilitating a resolution and avoiding liquidation.
https://www.coinspeaker.com/crypto-exchange-wazirx-shares-recovery-roadmap-235-hack/