Indian crypto exchange WazirX has announced a plan to mitigate the consequences of a recent hack that led to the loss of about $235 million.

- The hack affected 45% of user funds.

- The exchange is implementing a “strategy of socialized losses.”

- Users will receive 55% of assets immediately, the remaining 45% will be locked in USDT tokens.

- Users must choose one of two recovery options before August 3, 2024.

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