**WazirX Hack Sparks Outrage Over Proposed Solution**

In the wake of a $230 million hack, WazirX's proposed "socialized losses" plan has faced heavy criticism from its user base. The controversial 55/45 approach would allow users to trade only 55% of their assets, while the remaining 45% would be converted into USDT or other tokens and locked on the platform.

A user poll ending on August 3 showed overwhelming disapproval, with many feeling unfairly impacted. Users expressed frustration on social media, demanding better security and transparency from the exchange.

WazirX co-founder Nischal Shetty clarified that the poll was for community input and not a binding decision. The hack has spurred the Bharat Web3 Association to focus on stronger cybersecurity and consumer protection in the crypto industry.