Bitcoin Forum

So I had just read about WazirX court hearing had been delayed to the June 6 again they says that 93% of creditor agreed to the recovery plan but I think it feels like most users didn’t even have the much of real choice.

That's the tweet of there confirmation
https://x.com/WazirXIndia/status/1922610444851650682

A 51–55% of the recovery rate after the $235M hack
And then using funds for the legal fees?
Bro that doesn’t scream trust me
Sure they say operation will be restart 10 days after approval
but can we really believe it willl go smooth in these time?

I feel like WazirX had more focused on their launching a DEX & recovery tokens than actually fixing user confidence

Some people might be okay with it as they may think Something is better than nothing

but the bigger question is—
Is WazirX doing the enough to rebuild with the real trust in the community
Or are we just watching to another delayed exit strategy?

A $235 million hack can force many companies in India to shut down completely. I am happy to see that Wazirx is still fighting to get back to the ground. Consider yourself lucky even if you get back 50% of what you have lost in the hacking incident. Many other companies will not even try. At least Wazirx is trying to come back to the market.

I am sure they will have some plans for the future. But as of now, any hope for partial recovery is good which is the case for Wazirx.

I see them differently, they keep saying that they are opening the refunds for a very long but there is an excuse one after another which is not a good sign, if they wanted to refun they would a long back so what they are trying is to build their reputation to attrack investors or any source of income to relaunch their platform. And also they didn't give any other choice than stand with them or it's just the complete loss so people will obviosuly pick whatever that gives them a hope.

Well the startup culture is India is broken and we all see how startups have been running at losses for years. For a crypto startup that is even tougher to get through and on top of that a hack leading to a huge loss - enough of a blow to shut the thing down for Indians.

I dont think people have any other option that to listen to what they propose for now. MtGox refund started happening at 10years after the incident, however I dont know what they are actually doing now.

Crypto startups that started during the bull market have all faced bad times, no government support and heavy fines, taxation all lead to a toxic landscape here.

That's how it is isn't it ?
We have all seen big exchanges getting hacked and shutting down. It's enough reason for exchanges for an exit scam.
On the other hand, WazirX is still trying their luck to get back on track which shows they are not trying to pull an exit scam at least yet.
So instead of losing money in such hacks isn't it better even if you get some of your money back ?

Holding money on exchanges is risky and we all knew it before holding our funds on the exchange.
We should all encourage WazirX for their efforts to raise up and start their operations.