Indian crypto exchange WazirX's CEO, Nischal Shetty, is seeking approval from users for a restructuring scheme following a recent hack. The scheme must receive the support of at least half of the creditors, and value-weighted creditors from each class must also vote in favor. If approved, customers will be able to access their share of the Rebalanced Net Liquid Platform Assets (NLPA) through the WazirX app. The voting period for the scheme will take place from March 19th to the 28th, 2025. Creditors are expected to receive approximately 85.3% of their balances back in USD from the NLPA. If the scheme is not accepted, there may be a liquidation process with delayed recoveries. The restructuring aims to facilitate future asset recoveries and profit sharing for creditors through the reactivation of the WazirX platform.



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