George Gwee, a director at Kroll, indicated that at least 43% of the funds in WazirX are unlikely to be recovered, revealing the harsh financial reality customers face.
WazirX has requested six months' protection from the Singapore High Court to restructure its liabilities, while aiming to return a modest fraction of lost assets to customers.
With discussions underway about sharing profits from revenue-generating products, WazirX maintains a focus on distributing remaining token assets to users on a pro-rata basis.
WazirX remains tight-lipped regarding its capital-raising efforts amid ongoing disputes with Binance, adding uncertainty to the future of the Indian cryptocurrency exchange.
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