WazirX offers clients two options for recovering funds

The Indian crypto exchange WazirX, from which hackers stole $235 million, has offered clients two options for compensating lost funds, with the timeline for returns depending on the choice of creditors. This was reported by the platform's press service.

The first option involves actions under a restructuring plan approved by the High Court of Singapore on January 23 under the Companies Act of 1967, which regulates company operations in India. WazirX plans to issue special "recovery tokens" for affected users. These tokens will be distributed proportionally to the lost crypto assets. The assets can be exchanged. If 75% of creditors approve this plan, the exchange will begin repaying debts as early as April 2025.

The second option is the liquidation of WazirX under Singapore’s Companies Act. Payments to creditors could be delayed until 2030, as they would have to wait for disputes over asset ownership to be settled.

Previously, it was reported that the management of the Indian crypto exchange WazirX intends to resume digital currency trading by February 2025. This was announced by WazirX co-founder Nischal Shetty.