WazirX Announces Debt Restructuring Plan to Rebuild User Trust Following Cyberattack

Following a cybersecurity attack last year, Indian cryptocurrency exchange WazirX has embarked on a significant debt restructuring process. This plan, submitted to the Singapore High Court for approval, aims to address user concerns and restore trust in the platform. The comprehensive plan has received strong support from creditors, with 93% voting in favor of its feasibility. WazirX’s goal is to initiate the process of returning user funds gradually after legal proceedings are completed. This restructuring plan incorporates a gradual return of user funds and transparency in each stage.