Finally, the WazirX CEO talked about the new controversy over the extension of WazirX refund restructuring period.
Yesterday, we reported that the WazirX crypto exchange secured court approval to execute the exchange’s restructuring scheme. In an affidavit, WazirX exchange asked the court to provide 4 more months to extend the restructuring & refund process.
WazirX’s 4-month time extension demand raised a very big controversy in the Indian crypto community. Many people alleged that WazirX leadership wants to extend the timeline for individual benefits & harm the WazirX creditors.
A Crypto X user asked WazirX CEO Nischal Shetty about this new controversy. Nischal stated that the court has instructed them to hold a meeting (a necessary step before voting on something) within the next 3 months but they will do the same sooner because that would benefit everyone involved.
Many Crypto X users noted that the WazirX CEO was trying to ignore the main question and misleading the customers.
Response tweet by the Crypto X users against Nischal’s tweet clearly shows that all the WazirX creditors are now frustrated with the delay, and they’re also raising questions about why the exchange is not releasing customers’ funds which were INR amount deposited by them post-hack incident.
A popular Indian crypto YouTube channel “Engineer_explains” host said that such delays in the restructuring processes and misleading statements are downgrading the reputation of the Indian crypto sector.
A crypto influencer, Aditya Singh, noted that the WazirX team has also not been active in updating data related to the Wazirx Scheme Timeline Calculator & Proof of Reserve for User Funds, over the last 3 months.
