Zettai’s creditor meeting plans: zettai, the parent of WazirX, has filed with the singapore HIGH court to hold a creditor meeting. This is part of a restructuring effort to address claims and distribute 566.39 million USDT in assets among WazirX users affected by a recent cyberattack.
Objective of the scheme of arrangement: the proposed scheme of arrangement aims for a fair allocation of WazirX’s liquid assets, ensuring full recovery for users. Users categorized as scheme creditors will discuss the plan’s details, with initial payouts expected within 10 business days upon approval.
Cyberattack response: zettai is responding to a july cyberattack that resulted in over $230 million in losses. This recovery strategy includes a restructuring plan and cooperation with authorities following legal actions. The ongoing bullish crypto market further boosts confidence in the recovery efforts.