WazirX exchange, which suffered from a hacker attack amounting to $235 million in July 2024, has announced a restructuring plan to compensate affected users. The company proposed payments through recovery tokens that will allow users to get back up to 80 percent of their lost funds. WazirX’s debt issues are being addressed through a Settlement Scheme in the Singaporean court. Its competitor CoinSwitch has created a fund to support the victims of the attack, amounting to $69.9 million, and has filed a lawsuit against WazirX to recover its blocked funds.
1/11/2025 11:12:15 AM (GMT+1)
WazirX presents a restructuring plan after the hacker attack of $235 million in July 2024: compensation to users via recovery tokens and the Settlement Scheme in Singapore ⚖️
42
Total views in all languages
Share: 100
x3
This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
Top Articles of the Last 10 Days
Trump expanded the list of goods exempt from new tariffs on imports from Canada and Mexico in response to economic and trade threats, despite the ongoing tension
Vietnam and Singapore signed a Memorandum of Understanding to regulate the digital asset market and strengthen the fight against money laundering and terrorist financing
1inch recovers $5 million stolen after an attack on the old version of the Fusion v1 smart contract, the hacker returned the funds by agreement with the platform
The Cardano Foundation enters into a strategic partnership with SERPRO to implement blockchain technologies in Brazil's public sector and train 8,000 employees
Binance launches a voting mechanism for the listing and delisting of tokens, providing users with more control and supporting new promising projects
1inch was subjected to a hacker attack, losing more than $5 million due to a vulnerability in the smart contract, but user funds remained safe
Governor of Nebraska signed the LB609 law to protect cryptocurrency ATM users, prevent fraud, and enhance control over the crypto industry
