Indian crypto exchange WazirX is facing backlash from users over a restructuring plan that gives them two options: support the creation of a new decentralized exchange (DEX) or wait up to five years to get their money back. WazirX warns that the refund process without DEX approval could be extended and take significantly longer than the restructuring process. The exchange plans to launch its own DEX if creditors opt for restructuring. However, there is no clear timeline for when hack victims will receive their funds. WazirX promises to share future DEX profits with creditors but has not disclosed details on the percentage, frequency, or recipients of compensation. Some users have criticized the plan and urged the WazirX team to sell their property to reimburse customers more quickly. WazirX lost over $234 million in customer funds in a hack in July 2024, which was attributed to North Korea's Lazarus Group. The exchange previously attempted a socialized loss strategy that was met with outrage and had to be abandoned.



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