India’s leading cryptocurrency exchange Wazirx has now made a new announcement for its users after the big hack in July 2024. Rs 2000 crore Wazirx hack After approving the restructuring plan from the Singapore court to solve the problems related to, Wazirx is now going to get its 4.4 million users voting. The objective of this voting is to get the company’s restructuring plan approved by the users, which will be held on the Kroll Data Products and Services (KIS) platforms.
Kroll selected for voting by Wazirx
Wazirx announced in a town hall session on Wednesday that it would get its users voted from 19 to 28 March 2025. Through this voting, the Wazirx restructuring plan will be approved. For this process, Wazirx has selected the Kroll Data Products and Services (KIS) platform, which is an independent and neutral third party platform.
According to the order of the Singapur Court Docke, the Wazirx had to ensure that the voting process was completely fair and therefore Kroll has been appointed for this process. Wazirx also clarified that only the same loansyers whose claims have been approved will have the right to vote on this proposed plan. Also, it was also told that voting will be done only on Kis Platform, and votes will not be done through any other means.
Further procedure and independent evaluation
Wazirx has announced that an audit will be done by an independent evaluation “Alvarez and Marsal (A & M)” after the voting process. The audit will be between 1-8 April 2025, after which the result of voting will be announced on 11 April 2025. This process will ensure that the restructuring plan is fully fair and transparent.
In addition, Wazirx has also released some important updates to make its user service more transparent. In these updates Wazirx Pockets Migration and Declare Tracker Replace Are included. An Initial Creditor Checklist and an 18th July Web Page have been added to the platform, giving users clear information about their claims and balance. In addition, Wazirx is also starting its pockets migration process, ensuring secure and efficient operations.
Conclusion
Wazirx’s move to voting for its users is important, as it not only promotes the transparency of the Crypto Exchange, but is also an important step towards a fair restructuring plan. Efforts are being made to keep this process fair through independent platforms like Singapore Court order and Kroll. In addition, other updates of Wazirx such as Initial Creditor Checklist and Pockets Migration processes are also important towards providing a better and safe service to users.
