Following the $230 million WazirX hack, the exchange's plan to address losses faced significant opposition from users. The proposed 'socialized losses' approach, where 55% of assets would be tradable while 45% converted to stablecoins, was heavily criticized. Users felt the plan unfairly impacted all, not just hack victims. The backlash led to frustration and uncertainty among users unable to withdraw funds. Despite this, WazirX clarified the poll was for community input, not a final decision. The exchange denied security lapses post-hack and faced calls for transparency. The incident prompted the Bharat Web3 Association to focus on cybersecurity in India's crypto sector. This highlights growing concerns in the crypto community regarding exchange security and user protection. Read more AI-generated news on: https://app.chaingpt.org/news