WazirX go compensate $230M wey dem lose for hack with RT tokens for di midst of dia restructuring efforts
WazirX, inda largest cryptocurrency exchange for India, dey address $230 million security breach wey happen for July 2024. Di exchange plan to pay affected users back by distributing RT tokens wey go worth di value of di stolen assets. Dis tokens go help to share any future money wey dem fit recover. To avoid liquidation under Singapore Section 301, WazirX dey find 75% creditor approval before February 19, 2025, and dem plan to launch decentralized exchange (DEX) to improve liquidity and restore trust. As part of their recovery strategy, di platform dey use profit-sharing and decentralized exchange initiatives, as dem aim to realign dem portfolio with innovative tokenization methods by community consensus. CEO Nischal Shetty dey emphasize make dem align user expectations with actionable results, with potential trading of RT tokens based on community interest. Di success of dem efforts go determine WazirX's future model and market impact.
Neutral
The impact of WazirX’s compensation plan wey use RT tokens dey classified as 'neutral' because e get mixed implications for crypto market. For short term, di initiative fit restore some level of trust and fit even keep di users wey dey already, so e go stabilize di liquidity. But how e go turn out go depend largely on how community accept am and if dem fit recover di money wey dem steal. Long-term market behavior go still depend on how well dem fit implement innovative ways and how regulation compliance go take affect while di risk of liquidation dey. So, balancing di possible positives against di risk factors dey show say di market impact na neutral.