WazirX has secured overwhelming creditor support (over 93%) for its restructuring plan aimed at reimbursing users affected by last year’s security breach. Zettai Pte Ltd., WazirX’s majority shareholder, announced that of the 141,476 creditors who participated in the vote, a substantial 131,659 approved the proposed scheme.
This marks a significant milestone in WazirX’s efforts to address the aftermath of the hack and compensate its users. The positive outcome of the creditor vote paves the way for the exchange to move towards initiating the refund process.
The next crucial step involves obtaining a sanction order from the Singapore High Court. Once the court grants its approval, WazirX can begin implementing the restructuring plan and distributing reimbursements to eligible creditors. This development offers hope to those affected by the incident and demonstrates WazirX’s commitment to resolving the situation.
