WazirX responds to a massive hack attributed to North Korea’s Lazarus Group by planning compensation for affected users. The exchange holds 566 million USDT, which it asserts is sufficient for compensating users. Their plan targets covering 75% to 80% of the hacked users’ balances, emphasizing a structured and transparent reimbursement process.

The Indian exchange is firmly focused on rebuilding user trust. Implementing a restructuring strategy under Singaporean law, WazirX emphasizes organizational reforms to address debt while avoiding liquidation. This plan symbolizes a strategic step toward regaining user confidence and stabilizing operations after the crippling CYBER attack.

WazirX aims to complete the compensation process within 10 working days following the plan’s approval. This swift timeline reflects their commitment to user satisfaction and operational transparency. The CEO highlighted the importance of providing more value to users than what was lost in the breach, showing dedication to user-centric service.