WazirX releases user compensation plan: 55% of assets are used for trading or withdrawals, and 45% are converted into USDT equivalent tokens and lock
Odaily2024/07/27 02:41
By:Odaily
Odaily News WazirX releases recent security incident update: To facilitate the management of users remaining assets, we will provide two options, each with specific benefits and conditions. 55% of the users crypto assets will be available for trading and/or withdrawal (depending on the option selected by the user), while the remaining 45% will be converted into USDT equivalent tokens and locked. For both options, we will create a balanced portfolio for the unlocked portion of the users assets (55%) using a basket of crypto assets from the available crypto assets on the platform. If 55% of the users unlocked portfolio contains affected tokens, we will balance it by replacing the affected portion with a basket of unaffected crypto assets available on the platform. Unlocking locked tokens is related to subsequent asset recovery efforts. This includes tracking and recovering stolen assets, working with partners to make up for the shortfall, and exploring compensation methods, including possible airdrops. Users who choose option 1 can benefit first from the proceeds (if any) we can obtain from ongoing or future recovery efforts. The value of the unlocked portfolio (55%) will be calculated based on the average price of CoinMarketCap and selected global exchanges at 8:30 pm (IST) on July 21, 2024. Please submit your selection by 7:00 AM (IST) on August 3, 2024. This poll is not legally binding on users or the WazirX platform. The final decision on future developments will be made after considering the results of this poll and other considerations, including the results of ongoing surveys, the liquidity of the platform, and any changing circumstances.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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