A survey revealed that the majority of WazirX customers are unwilling to return to the platform even if services resume and funds are partially restored in the best-case scenario.
WazirX, once a leading crypto exchange in India, has been out of operation since a hack four months ago that led to the suspension of its services and the loss of a significant portion of customers’ funds.
On November 2, 2024, a popular Indian crypto influencer conducted a Twitter poll to gauge customer sentiment. The poll asked WazirX users if they would consider using the exchange again if the platform refunded 55% of the lost funds. The results showed that 77% voted “No,” 15% said “Yes,” and 8% responded with “I don’t know.”
One Crypto X user, advocating for WazirX customers, questioned who among the 15% still had confidence in WazirX’s leadership and would be open to using the platform again.
WazirX Moratorium and Slow Progress
The situation remains unclear for WazirX customers, with the exchange securing a four-month moratorium to rebuild and potentially offer better compensation. However, one month has already passed, leaving three months to establish a resolution plan.
In a recent shared restructuring timeline, WazirX CEO Nischal Shetty announced that fund returns to customers could take until at least February 2025.
Some crypto influencers have raised concerns about the slow progress, further questioning WazirX’s intentions regarding customer funds.
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