- WazirX has scheduled a Townhall meeting for September 2.
- The Townhall will discuss the proposed restructuring of Zettai Pte Ltd.
- The exchange filed an affidavit for a moratorium in a Singapore High Court.
The leading Indian cryptocurrency exchange, WazirX, has scheduled a Townhall meeting to discuss its recently proposed restructuring and moratorium application. In a recent announcement on X, the crypto exchange informed its community members it will hold the Townhall on Monday, September 2, at 1:30 PM IST.
Meanwhile, WazirX shared the same announcement on its YouTube channel, leaving more details in the post’s description. The crypto exchange highlighted that it will discuss the proposed restructuring of Zettai Pte Ltd and the Moratorium Application recently filed with the High Court of Singapore during the Townhall meeting.
According to WazirX, the session will cover critical updates and allow creditors to ask questions and share concerns. WazirX community members consider this aspect of the meeting crucial, considering the crypto exchange’s recent challenges and the potential steps it takes to address pressing issues.
Following the recent hack, which led to WazirX losing approximately $230 million in investors’ funds, the crypto exchange has filed an affidavit for a moratorium in a Singapore High Court. According to reports, the filing seeks to slow down proceedings against the exchange and provide it with legal protection.
The recent filing increased the concern among the crypto exchange’s community members about their inability to withdraw funds from the platform. Some of WazirX’s customers took to various social media platforms, alleging that the company’s three promoters are trying to escape legal proceedings in India by forum shopping in Singapore.
WazirX published a blog post last Thursday to inform its community about the court filing in Singapore. The crypto exchange highlighted that the moratorium will allow Zettai, which operates WazirX in India, to progress with restructuring. The exchange considers this the most efficient way to address users’ cryptocurrency balances on the platform and facilitate recovery for users.
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