Nischal Shetty pleaded with the WazirX community to support restructuring plans.
Shetty highlighted his concerns over negative publicity.
WazirX continues to pursue legal and bounty avenues to recover stolen assets.
WazirX founder Nischal Shetty has pleaded with the crypto exchange’s community members to support its recent restructuring plans. In a recent post via his private X account, Shetty explained that his firm’s primary focus is serving its platform users, encouraging WazirX community members to work alongside those who create objective, solution-oriented content.
There are those who influence, those who are influenced, and then there are our valued platform users.Our primary focus is on serving our platform users.While some may prioritize "views" and "likes," we encourage you to work alongside those who create objective,…
— Nischal (Shardeum) 🔼 (@NischalShetty) August 25, 2024
Shetty’s post highlighted his concerns over negative publicity that could emanate from the crypto exchange’s recent restructuring decision. He noted that many players in the media space, both social and mainstream, may exhibit acts motivated by ulterior motives. Hence, he advised WazirX users to avoid such people and concentrate on finding solutions to the existing problem.
Meanwhile, the renowned entrepreneur assured followers of his team’s commitment to resolving issues while banking on their support. Shetty reassured WazirX users that the exchange’s restructuring decision was not bankruptcy or liquidation, considering it would take several years. According to the founder, the community rejected that approach, and the team found a more optimal solution.
WazirX announced on Saturday that it was embarking on a restructuring program following a recent hack that saw the exchange lose about $230 million of users’ funds to the hackers. According to the exchange, its primary goal is to assist our users in recovering as much as possible while simultaneously exploring ways to enhance value.
In the meantime, the crypto exchange said it is actively pursuing various legal avenues and bounty programs to recover stolen assets. The team confirmed the ongoing process, intending to achieve the best possible outcome. However, the exchange promised to provide more details on the restructuring program in the future, encouraging caution against individuals who may attempt to promote the idea of bankruptcy and liquidation for personal gains.
The post WazirX Founder Explains Exchange’s Restructuring Decision appeared first on Coin Edition.
