A Crypto X user alleged that the WazirX leadership chose 10 members for the WazirX committee, but they selected members who are close to them.
As we know, the popular Indian crypto exchange WazirX is currently struggling financially, as the exchange lost $235 million worth of cryptocurrencies in a hack incident. Just a few days ago, WazirX secured regulatory approval for the moratorium application, in order to get more time and legal protection from customers’ lawsuit actions.
Recently we reported that WazirX CEO Nischal Shetty announced his plan to establish a committee of WazirX creditors to support the voice of each WazirX customer facing financial loss because of the current situation of the exchange.
https://t.co/V2JDPlz8GyWow! WazirX’s Nischal Announces a Committee to Support the Voice of Every #WazirX Customer
— Bitcoinik (@Bitcoinikdotcom) October 1, 2024
Today, the WazirX leadership announced that they selected 10 random WazirX creditors as part of the WazirX committee and confirmed that they would not disclose any information related to the selected customers.
A Crypto X user, dedicated to representing WazirX customers against the WazirX hack incident and the monopoly of WazirX leadership, claimed that the company invented a fake 10-member creditors committee. Instead, WazirX should’ve picked popular Indian crypto influencers like Aditya Singh, Mr. Chitale, Mr. Alwin, @TheWeb3CA, Mr. Shiva, Mr. Vivek, Mr. Jaivir, and others to represent the creditors.
Instead of inventing a fake 10 member creditors committee, #WazirX should’ve just picked @CryptooAdy , Mr. Chitale, Mr. Alwin, @TheWeb3CA , Mr. Shiva, Mr. Vivek, Mr. Jaivir and many more to represent the creditors.
— Justice for WazirX Users (@IndiasCrypto) October 3, 2024
This Crypto X user already claimed that the chances for better people to get selected as committee members were zero.
Our chance of being selected for the WazirX creditors committee is ZERO10 member committee will be formed by randomly selecting from 43 Lakhs users, based on both count and value.
— Justice for WazirX Users (@IndiasCrypto) October 3, 2024
Based on available information, the crypto X user noted that 5.5 lakh WazirX customers, not millions of people, were responsible for 92% of customer funds. This is the reason why Indian government agencies are delaying their actions on the WazirX crypto exchange matter.
WazirX official data reveals that just 5.5 lakh users hold 92% of total funds. The real reason the govt and media aren’t interested? There aren't 1.5 crore users!
— Justice for WazirX Users (@IndiasCrypto) October 3, 2024
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