WazirX plans to resume trading after a cyberattack that resulted in the theft of nearly $230 million. To do this, the company is implementing a settlement scheme in Singapore that will ensure liquidity and the recovery of user funds. WazirX will issue liquid assets worth $284 million and provide recovery tokens after the scheme is approved.
Zettai Pte Ltd, the parent company of WazirX, is also launching a decentralized exchange for recoveries. The court in Singapore granted WazirX a four-month moratorium for debt restructuring; however, users can only recover 55-57% of their funds. Several government agencies continue to investigate the hacking incident.
