WazirX CEO confirms WazirX will not adopt bankruptcy method to compensate customers
Nischal Shetty confirmed that WazirX leadership doesn’t want any unnecessary reason to increase the delay in returning customer funds.
WazirX is a popular Indian crypto exchange, and currently, this crypto firm is facing huge criticism from the Indian crypto community, as they failed to disclose any crucial details or plan to compensate customers. Although yesterday they released their plan formally that they will unlock the fiat fund withdrawal services for those WazirX customers who faced losses in very big amounts, the exact timeline for this plan is still unavailable in the public domain.
Today the WazirX team again shared new information with the WazirX customers and confirmed that they are doing their best to help the customers recover funds as soon as possible, but there are some players (not WazirX investors, probably crypto influencers) who want to create some road bumps in the new future plans.
WazirX CEO Nischal Shetty quoted this tweet and confirmed that neither WazirX leadership is planning for liquidation nor for bankruptcy; instead, it will be a restructuring plan, but it will take time, and probably the main plan will come into the public domain in the next 7 days.
An Indian crypto influencer alleged that the WazirX team is trying to create conflict between WazirX customers and crypto YouTubers with indirect statements.
Another Crypto X user claimed that the WazirX team is only providing useless information to convince the WazirX customers with words, instead of doing anything. This crypto X user also argued that WazirX actually has no compensation plan for customers because they’re going to give withdrawals for INR money, not crypto money.
