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WazirX Revote Passes With 95.7% Support: When Will Users Get Their Crypto Back?
WazirX Revote Passes With 95.7% Support: When Will Users Get Their Crypto Back?
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BTCCSquare news:
WazirX's amended restructuring plan has secured overwhelming approval, with 95.7% of creditors voting in favor during a revote held between July 30 and August 6. This marks a critical step toward recovering $235 million in user funds lost during a July 2023 hack.
The Singapore High Court initially rejected the exchange's first proposal in March, despite 93.1% creditor support, due to compliance issues. Zettai PTE LTD, the entity managing WazirX's crypto assets, has now submitted a revised plan that clears legal hurdles.
With withdrawals frozen since the breach, users' remaining assets have remained in limbo. The revote outcome signals potential resolution, though distribution timelines remain contingent on final court approvals.
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