WazirX: Considering restructuring to solve current problems, more details will be disclosed next week

BlockBeats reported that on August 25, Indian crypto trading platform WazirX released a security incident update, and will consider taking a restructuring path to resolve the current problem, and will disclose more details next week.

"We believe that this direction is in the best interests of platform users. The main goal is to help users recover as much money as possible. In addition, we are actively seeking various legal avenues and bounty programs to recover stolen assets. We will provide more details about the restructuring process next week. Remember, this is not bankruptcy or liquidation-those avenues take several years to resolve. Encourage everyone to focus on achieving the most effective and rapid solution through restructuring."

BlockBeats previously reported that on July 18, Indian cryptocurrency trading platform WazirX was hacked and its multi-signature wallet on the Ethereum network was stolen. A total of $234.9 million has been transferred to new addresses. The caller of each transaction is funded by Tornado Cash.