Encryption Ministerial The creditors warned against refusing Restructuring plan It can lead to a delay in paying until 2030. The plan, which the Supreme Court has already agreed, aims to distribute money that starts from 2025.
WazirX encryption exchange plan can speed up the recovered amounts
Indian encrypted currency exchanging Wazirx Call Its creditors to agree to the restructuring plan, warning that rejection can lead to Great delay In payment.
The plan, which was approved by the Supreme Court in Singapore, represents an opportunity to accelerate the compensation process for the benefit of investors affected by the penetration that was almost stolen. 235 million dollars.
Wazirx provided a clear projection to the creditors: If the plan is accepted, the first removals may begin early in April 2025.
Exchange also aims to restart its basic system and start a new, decentralized commercial activity, ensuring compensation for creditors through the profits created and restore stolen assets.
On the other hand, if the plan is not approved, the situation may become significantly more complicated. The stock exchange warned that creditors may have to wait Up to five years Before recovering their money.
Moreover, in the absence of a clear recovery structure, the recovered amounts can be negatively affected by filtering expenses and market fluctuations.
If the plan is rejected, the creditors will have to wait to resolve the dispute over the ownership of the assets before compensation. This uncertainty can extend waiting times, with the risk of seeing their money It decreased over time.
Wazirx users also warn of the risk of losing short -term gains due to the uncertain time.
The platform confirmed that the current emerging market cycle can provide opportunities for recovery, with long delays, will be lost.
Approval of restructuring by the court
On January 23, the Singapore Supreme Court approved the WazirX restructuring plan, considering it better to liquidate the company.
According to the court, the restructuring plan provides the ability to make it Faster distributions, Ensure a more suitable result for users compared to forced liquidation.
The stock exchange was estimated that based on the new plan, creditors can recover up to 80 % of their money by entering the recovery symbols.
These symbols, which represent the credits of the company’s assets, will allow creditors to benefit from the recovery of stolen money and the future profits resulting from the renewable platform.
In the next three months, Wazirx will conduct a vote between creditors to formally approve the plan. If the majority is supportive, the net liquid assets will be distributed to users within ten days of the conclusion of the vote.
This would allow Recover in time Compared to the possibility of waiting until 2030 if the plan is rejected.
The Wazirx administration has repeated the importance of this decision, focusing on how to support creditors for the success of the restart strategy.
The company has committed to maintaining a transparent connection and ensuring that the operation is performed with maximum clarity and speed.
