Wazirx Hack victims will receive 85% of their portfolio value as registered on Christmas.18 when the exchange ended its asset balancing on Tuesday, with the first distribution round scheduled in April.
From Tuesday, users can see both the US dollar and Indian rupial values for assets lost in a $ 230 million hack in July 2024. Up from the Ustolen Tokens, which belongs to individuals returned to users.
Creditors now have until February 18 to accept the rebalans according to the current scheme, with a majority of 75%required for the plan to move forward.
Part of the reimbursement plan is to launch a decentralized exchange (DEX), issue recovery tokens that can be traded, and perform a periodic repurchase of recovery tookens using platform surplus and new revenue flows over the next three years.
However, if the scheme is not approved, the restructuring plan fails and the process is moving.
Wazirx was hit by a security breach in one of its Multisig drawing books last July, which received over $ 100 million in Shiba Inu (Shib) and $ 52 million in Ether, including assets to be drained from the Exchange.
The stolen funds accounted for over 45% of the total reserves cited by the stock exchange in a June 2024 report, which led to a restructuring process to clear obligations. The North Korean hackingness Lazarus is believed to be behind the attack, which Coindesk previously reported.
