Cryptocurrency Alternate Wazirx recently made a significant announcement, claiming the company that it had a $ 478.5 million “liquid assets”. The announcement has been made amidst the ongoing voting process in March 2025, which is considered very important for the company’s future and return of users funds. Please tell that Wazirx hack After the exchange is continuously working with its restructuring plan.
Voting process and Wazirx restructuring plan
Wazirx is currently taking votes from 4.4 million Indian customers for its restructuring plan. This voting has started from March 19 and will run till 28 March. Under this, at least 75% of the voters need support so that the company can implement its plan, which promises to return 85% of the funds of users in 1-2 months.
Last year, the platform lost ₹ 2000 crore ($ 234.9 million) in the Wazirx Hack, suspending the funds of traders and users. Now, after more than 10 months, users are expecting the return of their funds.
For information, tell me that Wazirx will restart Alternate with Zodia CustodyFor which there has been a partnership between the two recently.
Importance of Independent audit made by the company
Wazirx gave information about the audit made by an independent third party, claiming that the company had $ 478.5 million liquid assets. This audit was performed by Alvarez & Marsal, who examined all the assets and liabilities of Wazirx. After this independent audit, the company showed clarity about its financial states and tried to assure users through it.
Conclusion
The future of Wazirx Restructuring Plan will depend on how many users support it in voting process. Although the company has given important information about its financial states, it remains an important question for users whether they will be able to get their funds back. In the midst of this crisis, it would be a major challenge for Wazirx to re -establish your transparency and reliability.
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