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Indian crypto exchange WazirX is implementing a restructuring plan following a $235 million cyberattack attributed to North Korea’s Lazarus Group. Under a Singapore Scheme of Arrangement, the exchange aims to compensate affected users, with initial token distributions expected to yield 75% to 80% of account balances. Meanwhile, competitor CoinSwitch has launched a recovery fund of 600 crore Indian rupees ($69.9 million) to support WazirX hack victims and is pursuing legal action to recover its own funds.
Nischal Shetty
People
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wazirx outlines recovery plan after major cyberattack and user compensation
09:38 10.01.2025
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