WazirX has filed for a six-month moratorium following a $234 million hack to create a restructuring plan to address user cryptocurrency balances.
"From the day of the incident, we have tried to be in constant touch with the WazirX team, seeking recovery of the funds... However, our efforts have not come to fruition." - CoinSwitch
The automatic moratorium of 30 days protects WazirX from legal action as it attempts to develop an efficient recovery plan for its users.
WazirX intends to distribute the impact of the hack pro-rata among users, treating them equally as unsecured creditors during the restructuring process.
Collection
[
|
...
]