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WazirX Advances Revival Plan With Final Vote and Fund Release Move
WazirX Advances Revival Plan With Final Vote and Fund Release Move
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BTCCSquare news:
WazirX has resolved its restructuring process in Singapore, marking a critical step toward recovery after a $235 million cyberattack froze operations. The exchange will hold a final creditor vote to ratify structural changes, paving the way for user fund distribution. Zanmai India, a Financial Intelligence Unit-registered entity, will oversee the process—eliminating the need for offshore transfers and streamlining compliance.
Creditors overwhelmingly backed the initial revival plan with 91% approval. The upcoming vote formalizes operational adjustments without altering user outcomes. WazirX plans to relaunch with a Proof-of-Reserve system, a strategic MOVE to rebuild trust in its platform.
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