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WazirX Secures Vital Lifeline: Hack Recovery Plan Gets Green Light for Extended Restructuring
WazirX Secures Vital Lifeline: Hack Recovery Plan Gets Green Light for Extended Restructuring
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India's crypto giant WazirX just dodged a bullet—regulators granted critical breathing room to execute its post-hack revival strategy. The exchange, still reeling from a $230M security breach last year, now has until Q4 2025 to restructure.
Rebuilding trust won't be easy. While the extension avoids immediate collapse, skeptics note this marks WazirX's third 'final chance' since the incident. Traders remain wary—daily volumes still languish 68% below pre-hack levels.
The real test? Proving decentralized finance can survive centralized failures. Because nothing says 'trustless system' like begging regulators for extensions—classic crypto irony.
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