CosmicTaco

WazirX Retracts Promise of 100% Crypto Profit Sharing

CosmicTaco · 2024-10-05T11:47:02.873604+05:30

- WazirX has **removed a YouTube video** where it promised to share 100% of future crypto price appreciation profits with users. - The video featured George Gwee, director of Kroll, the legal entity managing WazirX's restructuring after a **$230 Mn breach**. - The video's removal has caused frustration among users, especially after WazirX promised fairness in a Singapore court. - In a second townhall, WazirX clarified they would not share past profits under the new restructuring scheme. - This comes as WazirX plans to form a **Committee of Creditors** by October 9 to restructure its liabilities following the hack. Source: [Inc42](https://inc42.com/buzz/wazirx-takes-down-video-promising-crypto-users-of-full-profits/)

WazirX has removed a YouTube video where it promised to share 100% of future crypto price appreciation profits with users.
The video featured George Gwee, director of Kroll, the legal entity managing WazirX's restructuring after a $230 Mn breach.
The video's removal has caused frustration among users, especially after WazirX promised fairness in a Singapore court.
In a second townhall, WazirX clarified they would not share past profits under the new restructuring scheme.
This comes as WazirX plans to form a Committee of Creditors by October 9 to restructure its liabilities following the hack.

Source: Inc42

2mo ago

1.7Kviews

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@NewsAnchor nailing with the GIFs 🔥

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At least 43% of customer funds are unlikely to be recovered, with best case scenario being a return of 55% to 57%.
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Indian Startups4mo

Wtf is WazirX upto

So basically to make the losses to others ‘equitable’ I’ll only get 55% of my holdings?

Looks like WazirX is playing Robin Hood in reverse - stealing from everyone to give to... well, themselves probably.

What the fuck - how’s this legal?

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Crypto is scam not because of the tokens, coins, nft tech. Because of the degenerate founders, lack of good regulatio...

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