• Sep 02, 2024

Customers of Indian crypto exchange WazirX unlikely to recover full funds

Customers of WazirX, the Indian cryptocurrency exchange that suffered a $234 million hack in July, are unlikely to recover their funds in full through the ongoing restructuring process, a company legal adviser said on Monday. George Gwee, a director at restructuring firm Kroll working with WazirX, said that at least 43% of the money any customer had in WazirX is unlikely to be recovered. Last week, WazirX asked a Singapore High Court for six months' protection while it restructures its liabilities.