WazirX, after a major cyberattack that drained $230 million in digital assets, is working on a plan to restore its platform for users.
To achieve this, WazirX has initiated a Singapore scheme of arrangement aimed at providing liquidity and recovery options. The plan includes releasing $284 million in liquid assets and issuing "recovery tokens" to users to cover any unsettled debt. Meanwhile, Zettai Pte Ltd, the firm managing WazirX's assets, is set to launch a new decentralized exchange (DEX) featuring crypto staking and futures trading, further supporting recovery efforts.