• WazirX launched a “55/45 strategy” after the cyber assault, reserving 45% of its funds as USDT-equivalent tokens.
• Affected customers could have rapid entry to 55% of their belongings, with the rest being managed via personalized restoration choices.
• The restoration technique will embody an airdrop, with customers having to vote on a ultimate plan by August 3, 2024, after which full operations will resume.

Indian cryptocurrency alternate WazirX has introduced a restoration plan following a latest cyberattack that resulted within the theft of roughly $230 million, or 45% of consumer belongings on the platform. The technique features a social loss system that goals to distribute the financial impression pretty throughout all customers.

Following the latest cyber-attack that led to the theft of $230 million (45% of consumer funds), we’re dedicated to dealing with the state of affairs pretty and transparently. We’re implementing a social loss technique to distribute the impression pretty amongst all customers.

To handle… pic.twitter.com/uOKvxWuEip

— WazirX: Indian Bitcoin Change (@WazirXIndia) July 27, 2024

The alternate's newly launched “55/45 strategy” will permit customers to immediately entry 55% of affected belongings, with the remaining 45% being transformed into Bitcoin.

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