Treasury boosts restructuring funds: WazirX expanded its restructuring fund from ₹100 crore to ₹250 crore through strategic treasury management. This financial maneuver ensures the platform can recover from a significant ₹2,000 crore hack, covering necessary operational costs and developing a decentralized exchange.
Commitment to creditor recovery: WazirX is prioritizing creditor recovery by allocating 100% of profits to creditors until the ₹250 crore fund is restored. Post-recovery, 50% of profits will continue to support creditors for three years, emphasizing the exchange’s dedication to rebuilding trust in the cryptocurrency community.
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