- WazirX voting on the restructuring scheme began on March 19 and will continue till March 28 for its 4.4 million users.
- WazirX recently partnered with Zodia Custody as part of its relaunch plans.
It’s been several months since the WazirX hack happened in July 2024. The exchange has been making several announcements regarding paying back to its creditors. As per its previous intimation, the voting process on the proposed restructuring scheme finally began. It will dictate the course of action of WazirX and its creditors.
The WazirX voting process on the restructuring scheme started on March 19 and will continue till March 28. After the voting process concludes, Zettai will pass it to a third party for the verification process. When this Independent Assessor (IA) completes the verification, it will report back to the scheme manager.
What’s Next for WazirX Creditors?
As per the latest announcement from WazirX, the independent asset and liability verification was completed by Independent Assessors (IA). The verification included liabilities, assets, and token holdings of the platform.
Once this process gets a majority of votes in favor, creditors will get their refund based on the restructuring scheme. In case the result turns out the other way, creditors might have to wait for a few more months or maybe years to get their refund.
The recent WazirX town hall meeting on March 17 mentioned little to no details regarding the voting process. This left creditors disappointed ahead of the voting process. They have been waiting patiently for the last few months. And, it will take a few more weeks to know whether they will get their refund.
Meanwhile, WazirX is preparing for its relaunch. It recently announced a partnership with Zodia Custody which is backed by top officials from the Indian banking sector. The exchange is preparing to strengthen its security and foster its compliance to ensure asset protection moving forward.
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