PANews reported on April 7 that according to Cointelegraph, more than 90% of the voting creditors of Indian cryptocurrency exchange WazirX voted in favor of the platform's post-hacker restructuring plan. WazirX co-founder and CEO Nischal Shetty said that after the plan was approved, recovering the stolen assets was the "main focus." However, he pointed out that profit sharing is a further measure the company hopes to use to compensate users.
The plan was developed under the supervision of the Singapore legal system and announced in January. Under the plan, WazirX will hold liquid assets worth $566.4 million (in USDT) while creditor claims amount to $546.5 million (in USDT). The exchange has also issued recovery tokens to settle outstanding claims, enabling creditors to benefit from future platform operations and asset recovery. WazirX has pledged to return funds through token distributions, which could see users receive 75% to 80% of their account balances at the time of the cyberattack. The remainder will be represented by recovery tokens, which will be repurchased regularly using profits generated from platform operations and the proposed decentralized exchange (DEX).
