WazirX Announcements

📢 Online Webinar (Eighth Creditor Townhall) Announcement

Join us for the Second Online Webinar, during which we will explain the amendments to the Scheme and Explanatory Statement to help you make an informed decision before voting begins.

🗓 17th March 2025 at 5:30 PM IST / 8:00 PM SGT
🕠 Set a reminder 👉https://www.youtube.com/live/lbq5FKWoeG0?si=t1KMZVFiB4RbZE95

We appreciate your continued patience and support during this process 🙏

📢 Recovery Tokens Are Now Visible on the Rebalanced NLPA Page!

We’re committed to maximizing your recoveries, and Recovery Tokens (RTs) are a key part of that journey. You can now view your allocated RTs in the WazirX app on the Rebalanced NLPA page.

» What Are Recovery Tokens?

RTs represent the portion of your claims over and above the Rebalanced NLPA Distribution. They are designed to provide additional recoveries over time through asset recoveries and profit-sharing.

» How Do They Work?

When the platform resumes operations and new business initiatives like the DEX are launched, the profits generated and recoveries from Illiquid Wallet Assets and Stolen Assets will be used to repurchase RTs, providing creditors with additional recoveries over time.

With RTs, you stay connected to long-term recovery efforts, ensuring that recoveries don’t stop at the Rebalanced NLPA Distribution.

Thank you for your continued patience and support as we move closer towards Restructuring 🙏

With the Scheme, our goal is to maximize recoveries for all Creditors through the issuance of Recovery Tokens.

Once the Scheme becomes effective, we aim to distribute the Rebalanced NLPA within 10 business days. Additionally, Recovery Tokens (RTs) will be issued for the remaining claims. These RTs will be repurchased over time using asset recoveries and profit-sharing, providing further opportunities for recovery.

We believe this approach can offer a fair and efficient solution for our community, and we are grateful for your patience and support as we move forward together.

Read more about Recovery Tokens and their role in the Scheme 👉https://wazirx.com/blog/first-distribution-and-recovery-tokens-what-wazirx-users-need-to-know/

We believe voting YES for the Scheme can offer several benefits:

» Faster access to tokens (Rebalanced NLPA)
» Market exposure & potential upside
» Future recoveries: Illiquid Platform Assets
» Future recoveries: Profit Sharing
» Legally binding

We value your support and invite you to watch this video to discover how the Scheme can help our community progress together 👉https://youtu.be/xqxC50yJ6I0?si=2nXamWRVrALNOI5T

The Scheme ensures faster access to tokens (Rebalanced NLPA), potential future recoveries, and a more structured path to recovery—unlike liquidation, which brings delays, uncertainty, and lower recoveries.

Read more about why the Scheme is the right choice 👉https://wazirx.com/blog/why-is-the-scheme-of-arrangement-better-than-liquidation/

The Scheme of Arrangement offers the right path to recovery, ensuring fair treatment, faster access to rebalanced net liquid platform assets, and future recoveries.

Read more about its benefits and why voting YES matters 👉https://wazirx.com/blog/how-is-the-scheme-of-arrangement-the-right-path-to-recovery-for-wazirx-users/

Watch this video for a complete breakdown of the Rebalanced Net Liquid Platform Assets (NLPA) page 👉https://youtu.be/wsx2W1pAzVs?si=ro0xFNpOwY8ogNsk

👋 tribe

We want to reassure you that assets remain safe and secure. As previously mentioned, we are performing an on-chain movement of tokens to streamline custody and improve efficiency.

This will have no negative impact on the restructuring, and we remain committed to a smooth transition.

Thank you for your continued support and patience as we move forward 🙏

📢 Online Webinar (Seventh Creditor Townhall) Announcement

In this Online Webinar, we will provide a detailed explanation of the proposed Scheme’s terms, what it offers to each Scheme Creditor, and its overall impact, especially with regard to Scheme Creditors. This session will ensure you have all the necessary information to understand the effect of the Scheme and make an informed decision when voting, which is expected to take place between 19 March and 28 March 2025.

🗓️: 19th February 2025 at 5:30 PM IST / 8:00 PM SGT
🕠: Set a reminder 👉https://www.youtube.com/live/H1gLwpcFrHI?si=BDsmn0Dj1CZFAy8A

📢 Voting Timelines

The next key step is here – Voting on the Proposed Restructuring Scheme

» Voting Period: Planned from March 19 to March 28, 2025

» Distribution of Rebalanced Assets: With rebalancing completed, approximately 85% of Scheme Creditors' balances (valued as of July 18, 2024, 1 PM IST) will be distributed within 10 business days after the Scheme becomes effective, if the majority votes YES!

Make your vote count once the voting begins 🙏

Read more 👉https://wazirx.com/blog/voting-on-wazirxs-recovery-scheme-planned-for-march-19-28-rebalanced-token-distribution-to-follow/

📢 Sixth Townhall Announcement

In this Townhall, we will provide a detailed walkthrough of the Scheme Process, covering everything creditors need to know—from reviewing claims and raising disputes to inspecting records and voting. This session will ensure that all creditors clearly understand the next steps in the restructuring.

🗓️: 12th February 2025 at 5:30 PM IST
🕕: Set a reminder 👉https://youtube.com/live/ydEWGdlRD4g?si=WorhmaiFUzew-9vh

📢 Rebalancing Complete!

The rebalancing of platform assets is now done!

✅ Initial Fund distribution will return ~85.25% of USD value to creditors, based on rebalancing prices.
✅ Creditors can check their allocated share on the WazirX app & website.

Zettai remains committed to maximizing recoveries through:

» Platform reactivation
» Recovery Tokens
» Asset recovery (including stolen funds)
» New business initiatives (DEX)

All this depends on the Scheme’s approval if a majority votes Yes!

Read more 👉https://wazirx.com/blog/asset-rebalancing-is-now-completed-check-your-first-distribution-estimates/

We have published the Preliminary Creditor List and the 18th July  Page inside the WazirX app to provide complete transparency in the restructuring process.

» Preliminary Creditor List – Creditors can now check their claim amount in USD using a unique UUID. The list is ordered by descending value of claims and can be searched using the UUID. A ‘Find My Balance’ option is also available for easy access. Additionally, creditors can inspect another creditor’s claim by submitting an inspection request during the Inspection process - please refer to the Preliminary Creditors List which sets out the UUID of all creditors in lieu of personally identifying information.

» 18th July Page – Creditors can now view a snapshot of their Balances as of 18th July 2024 1PM IST, including token balances and deposits made after this date. A link to this page has been added to the funds section and the app home page.

These updates ensure all creditors have visibility into their claims and are in line with the Scheme Process.

📢 Wallet Migration in Progress

We're moving funds from our existing cold wallets to new ones for better fund management, improved accessibility, and enhanced operational efficiency.

We are fully committed to remaining transparent, keeping our tribe at the heart of everything we do.

Thank you for your continued patience and support 🙏🏻

Two paths, two very different outcomes.

Here's a breakdown of what happens if the Scheme is approved versus if it isn't. Understand what to expect in both scenarios as we approach the voting process.

📢 Court Approval for Scheme Meeting Granted

We're pleased to announce that the Singapore High Court has granted us leave to convene a Scheme Meeting. This marks another significant milestone in the restructuring process as we move closer to the distribution of Net Liquid Platform Assets and restarting the WazirX platform.

The next step? Prepare for the Voting Process. Scheme Creditors will have the opportunity to vote on the Restructuring Scheme, paving the way for faster and fairer recoveries.

We'll share details of the voting process and dates soon. Thank you for your continued patience and support as we take another step forward together.

Read more 👉https://wazirx.com/blog/singapore-high-court-grants-leave-for-zettai-to-propose-its-scheme-of-arrangement-to-creditors/

The Scheme of Arrangement has advantages over Liquidation for Scheme Creditors as it offers:

✅ Potentially higher recoveries when compared to a possible Liquidation
✅ Significantly faster access to distributions than under a possible Liquidation
✅ More ability for Scheme Creditors to have a say in the overall process than in Liquidation
✅ Higher potential for any market-driven upside via token distributions than in Liquidation, where distributions will likely be made in fiat

📢 Recovery Update: ~$3M USDT Frozen

As part of the ongoing recovery efforts following the cyberattack, ~$3M USDT has been successfully frozen. This marks an important milestone in safeguarding user interests and recovering stolen assets.

🔍 Why This Matters:

» Rapid Action: Freezing the funds stops them from being moved and helps with the recovery process.

» Focus on Recovery: Every measure is being taken to address the cyberattack's impact and recover additional funds.

» Commitment to Users: Every amount frozen & recovered strengthens our mission to safeguard the assets and rebuild trust.

Rest assured, we are working hand in hand with forensic experts and authorities to make meaningful progress and ensure justice prevails 🙏

The US, Japan, and South Korea have issued a joint statement on DPRK cyber threats, linking North Korea to $659M in crypto thefts, including $235M tied to WazirX. Collaborative efforts are underway to recover stolen funds and strengthen global financial security.

Read more 👉https://www.koreatimes.co.kr/www/nation/2025/01/602_390391.html

FAQ: How will Zettai ensure the buyback of Recovery Tokens and maximize creditor recoveries over the next three years?

A: The sharing of any future net profits will be governed by the Scheme, which, once approved by Scheme Creditors and sanctioned by the Court, will be legally binding. Purchases of Recovery Tokens will be driven by a number of factors, including amounts to be determined from net shared profits and recoveries from Illiquid Wallet Assets and Stolen Assets. While these depend on market conditions and recovery efforts, Zettai is fully committed to maximizing recoveries for creditors within the proposed timeline.

For more detailed answers to additional FAQs, please read our updated blog here 👉https://wrx.gg/faqsrs