WazirX To Set Up Committee Of Creditors After $234 Mn Hack

WazirX To Set Up Committee Of Creditors After $234 Mn Hack

SUMMARY

WazirX has announced that it will form a committee of creditors (CoC) by October 9 as the cryptocurrency exchange rushes to restructure its liabilities after suffering a massive $234 Mn hack

The 10-member creditors’ committee, which will comprise users affected by the hack, will give WazirX advise and feedback on its restructuring plan

This comes days after a Singapore court granted the Indian crypto exchange a conditional four-month moratorium

WazirX has announced that it will form a committee of creditors (CoC) by October 9 as the cryptocurrency exchange rushes to restructure its liabilities after suffering a massive $234 Mn hack that left millions of Indians with substantial losses.

The 10-member creditors’ committee, which will comprise users affected by the hack, will give WazirX advise and feedback on its restructuring plan, it said in a blog post.

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