{"id":136659,"date":"2024-09-03T13:00:12","date_gmt":"2024-09-03T10:00:12","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136659"},"modified":"2024-09-02T23:56:06","modified_gmt":"2024-09-02T20:56:06","slug":"wazirx-users-unlikely-to-recover-full-funds-after-234-million-hack","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/wazirx-users-unlikely-to-recover-full-funds-after-234-million-hack\/","title":{"rendered":"WazirX Users Unlikely to Recover Full Funds After $234 Million Hack"},"content":{"rendered":"

The Indian crypto exchange is currently in the midst of a restructuring process following the breach and has requested additional time from Singapore\u2019s high court to implement a strategy that maximizes token recovery for its users.<\/p>\n

According to TechCrunch<\/a><\/strong>, the restructuring firm assisting WazirX has indicated that customers may need to forfeit at least 43% of their assets. Kroll’s George Gwee mentioned that the most optimistic scenario would see users recovering between 55% and 57% of their funds. WazirX aims to distribute any remaining assets to users on a pro-rata basis through cryptocurrency.<\/p>\n

The firm explained that the losses from the cyberattack would be shared proportionally among users, who are classified as unsecured creditors. The distribution will be based on users’ claims relative to their account balances.<\/p>\n