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WazirX Retracts Promise of 100% Crypto Profit Sharing

  • 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

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1mo ago1.7K views
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WazirX Customers Face Major Losses After $230M Heist

  • WazirX customers unlikely to recover full funds after $234 million hack in July, says legal adviser.
  • At least 43% of customer funds are unlikely to be recovered, with best case scenario being a return of 55% to 57%.
  • WazirX seeks si...
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