Poll on recovery options was 'not legally binding': WazirX clarifies in fresh statement after $230M hack
New Delhi/IBNS: Indian crypto exchange platform WazirX has been facing heat from the industry as well as customers for its "Withdrawal Management Programme: Opinion Poll" in the aftermath of the $230 million hack, 45 percent of its user funds, it suffered earlier in July, reports CoinDesk.
The July 27 poll, which was described by the cryptocurrency platform as a " socialized loss strategy to distribute the impact equitably among all users", asked customers to vote on two different options — access 55 percent of their funds without withdrawals and get first priority for when potential recovery proceeds come or access 55 percent of their funds with withdrawals with second priority to potential recovery proceeds, according to reports.
However, WazirX and its co-founder Nischal Shetty have released fresh posts on X (formerly Twitter) clarifying that the poll conducted by the exchange was "not legally binding" and it was a "preliminary step to understand" customer opinions.
Nischal Shetty added that the platform will soon launch a feedback form "to collect more ideas."
1. This poll is a preliminary step to understand your opinions.
— Nischal (Shardeum) 🔼 (@NischalShetty) July 29, 2024
2. This poll is not legally binding upon the users or WazirX
3. We will soon launch feedback form to collect more ideas
4. We are now looking into next steps based on all the feedback received
This is a major… https://t.co/tcdDjWzIYI
As per reports, the fresh statement came from WazirX co-founder after at least three rival crypto exchange platforms in the country, including Giottus, CoinDCX and Unocoin, and several customers criticized the move.
WazirX earlier stated "this strategy allows immediate access to a significant portion of your [customers'] assets while maintaining the possibility of further recovery for those who choose to wait."
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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