Wazirx, a major cryptocurrency exchange of India, has now brought a new plan after its biggest hack. In July 2024, a large Wazirx Hack of $ 230 million took place and now Wazirx has offered Fix Tokens (RTS) to the affected users. Under this scheme, these RTS aims to compensate the users for their lost funds, but some conditions are also attached to it. Wazirx claims that the move is trying to get back his lost credibility, but there are many uncertainty as well.
Fix Tokens What is the future compensation or a cheating?
Wazirx has introduced Fix Tokens (RTS) as a new initiative, which will be a way to compensate the users with hacks. The exchange says that RTS will make additional compensation in addition to users’ claims, which will be based on the benefits and recovery of property in future. This means that if Wazirx earn somehow profit in future or gets the stolen funds back, the RT holders will get the benefit.
However, its biggest question is whether Wazirx will really be able to show the possibility of such a profit? RTS has no real value, as they only depend on the future plans and recovery process of Wazirx. The exchange will have to depend on the profits after launching its decentralized exchange (DEX), and it will also be a big challenge to succeed in bringing the stolen funds back.
Significantly, recently Wazirx transferred ₹ 606 crore secretly Were. This step was taken after the platform after the new bybit hack. On which people were accused of cheating the new Wazirx and hiding their users. According to the information, Wazirx did not respond to these allegations.
Fix Plan of Wazirx: Is this a reliable step?
Wazirx’s recovery scheme is raising many questions about the theft of $ 230 million among users. After July 2024 hack, Wazirx has reproduced its assets and made a plan, for which Wazirx will get voting from usersFrom which 85% of funds are being talked about. But this is possible only when users approve the plan in upcoming voting (March 19-28, 2025). If this plan passes, payment will be made in 10 working days.
Another major question of this scheme is whether users will accept the entire process, including completely uncertainty. Wazirx’s credibility has already fallen a lot after hack and then it can be challenging to add users to another service. Will Wazirx be able to get back your lost credibility with the help of its new proposals and Dex, or is it just a postponary strategy?
Conclusion
Wazirx’s Fix Tokens Yojana has surfaced with an uncertain future. Despite this, many conditions and risks are connected to the scheme, such as Wazirx’s Dex project and uncertainty of recovery of assets. It becomes a serious question for users whether they will invest in this scheme or not. Although Wazirx has claimed that the scheme affected by this scheme will get more compensation, the question is whether users will actually adopt this instability. This entire process will be clear over time.
