WazirX co-founder: The compensation plan does not involve INR wallet balances, and future recovery measures include recovering stolen assets and airdropping.

Odaily Odaily News WazirX co-founder Nischal YuX said in a post that the fastest way to reopen the platform for operation is to socialize the losses of the entire crypto portfolio. INR wallet balances will not be affected. This partial lock only applies to the crypto portfolio balance. This is the first phase, and everyone can access a portion of the cryptocurrency portfolio. In the second phase, the team will work on recovery, which will include recovering stolen assets, finding partners and external help, airdrops/new token use cases, etc. We are also considering how to fill this gap with the future profits of the exchange if we can grow the business. It takes a long time to recover such a large amount. By socializing the losses, as other affected exchanges have done in the past, we will be able to open the platform to everyone faster. With the continued support of users, we will be able to: 1. Restart operations; 2. Carry out recovery work through various methods. Earlier today, news, WazirX released a recent security incident update: In order to facilitate the management of users' remaining assets, we will provide two options, each with specific benefits and conditions. 55% of the user’s crypto assets will be available for trading and/or withdrawal (depending on the option selected by the user), while the remaining 45% will be converted into USDT equivalent tokens and locked.