Major WazirX Update: What's Next for Users?
#WazirX victims will be able to withdraw funds from August 26.
Crypto Balances: Following a recent cyberattack, WazirX lost tokens worth $234 million, and paused withdrawals.
They're pursuing a Singapore Scheme of Arrangement to distribute assets fairly. Users will vote on the proposed restructuring to ensure it reflects their preferences.
INR Balances: INR withdrawals resume 26 August 2024!Â
Withdrawal fees also reduced by 60%, now just INR 10.
Withdraw up to 66% of INR balances in two phases:
Phase 1 (26 Aug â 8 Sept): Up to 50% of available balances.
Phase 2 (9 â 22 Sept): Full 66% limit.
Note: 34% of INR balances are frozen due to ongoing investigations but are safe and will be released post-clearance.
Next Steps: WazirX will soon file for restructuring in Singapore.
Stay tuned for more updates!