What You Need to Know:

• WazirX has concluded the rebalancing of its assets and plans to return 85% of the value of stolen user funds based on their portfolio as of July 18, 2024, pending creditor approval.
• Creditors have until February 19 to agree to the proposed rebalancing plan.

Details of the Distribution

WazirX intends to provide up to 85% of total stolen user value after completing its rebalancing process. The distribution is set to begin in April after the scheme receives majority approval from creditors.

📢 Rebalancing Complete!

The rebalancing of platform assets is now done! Initial fund distribution will return approximately 85.25% of USD value to creditors. Creditors can check their allocated share on the WazirX app.

— WazirX: India’s Bitcoin Exchange (@WazirXIndia) February 10, 2025

As of Tuesday, users can access the values of assets lost in July’s hack, totaling $230 million. The restructuring plan aims to effectively minimize losses by launching a decentralized exchange (DEX) and creating new revenue streams to assist in asset recovery.

If not approved, the restructuring process may fail, leading to potential liquidation under the Singapore Companies Act, which might result in further losses for creditors.