Creditors of WazirX, a cryptocurrency exchange, are set to vote on a restructuring plan following a $235 million hack. The vote will determine whether they will receive their stolen assets as early as April 2025 or face a potential liquidation payout in fiat by 2030 after protracted legal battles. Should creditors reject the proposed plan, the exchange has warned that repayments could be delayed until 2030. In a related development, Indonesian agritech startup eFishery has appointed FTI Consulting to manage its operations amid an alleged fraud investigation, with advisers recommending that investors decide on a liquidation or restructuring plan soon.
𝗪𝗮𝘇𝗶𝗿𝗫 $𝟮𝟯𝟱𝗠 𝗛𝗮𝗰𝗸: 𝗥𝗲𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗯𝘆 𝟮𝟬𝟮𝟱 𝗼𝗿 𝟮𝟬𝟯𝟬? WazirX has issued a warning to creditors about possible repayment delays until 2030 if they reject its proposed restructuring plan. The exchange assures that approval could lead to repayments… https://t.co/mZi2UQRmdT
An adviser probing the alleged accounting fraud at Indonesian agritech company eFishery recommends that investors make a decision on whether to liquidate or restructure the company as soon as this month https://t.co/mK2Lvlj8qa
WazirX creditors to decide on recovery plan or risk lengthy liquidation https://t.co/UpqYTKtitg