Many crypto influencers noted that the WazirX leadership manipulated WazirX customers via the launch of a “rebalancing calculator.”

WazirX was a popular crypto trading platform in India. For the last 4 months, the services of this exchange have been suspended. In a hack incident, the exchange lost nearly half of its customers’ funds, and now this platform is unable to bring services back online.

Recently, WazirX CEO Nischal Shetty spoke in a town hall discussion about the exchange’s restructuring plan, which includes launching a new crypto token and decentralized exchange to compensate customers. Following this town hall, WazirX launched a “rebalancing calculator” to indicate how much of the customers’ funds would be returned.

Though the “rebalancing calculator” is functioning, many Indian crypto influencers noted that WazirX leadership launched it simply to mislead customers temporarily. A crypto X user, dedicated to uniting WazirX customers against the company’s actions, commented that WazirX’s calculator only shows potential fund release amounts but cannot actually provide funds. Customer compensation is completely dependent on the exchange’s restructuring timeline.

WazirX's rebalancing indicator is pointless since it’s just an example, not real. Actual asset allocation will only happen after the restructuring scheme is approved. For example, if you’re allocated DOGE and it’s going up, the indicator shows fewer DOGE every hour, which isn’t… pic.twitter.com/OGt5yQENvM

— Justice for WazirX Users (@IndiasCrypto) November 12, 2024

In short, the calculator shows the amount customers could receive, but they will not actually receive funds until the first quarter of 2025—if everything proceeds as planned. If delays occur, compensation could take even longer.

Earlier, some crypto X users noticed that WazirX-backed or affiliated X accounts were spreading positivity about the WazirX restructuring plan. Notably, the majority of these accounts appear to be female, leading some to allege that the WazirX team is using all possible methods to promote its claims.

How to promote a scam using fake girl profiles on X pic.twitter.com/hUH8RjDCkg

— Justice for WazirX Users (@IndiasCrypto) November 7, 2024

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