WazirX, a cryptocurrency exchange, has revealed plans to launch a Recovery Token following a hack that resulted in over $230 million in losses. This initiative is designed to address outstanding debts with creditors.
The token issuance will be based on an airdrop system, where creditors will receive tokens proportional to their platform balances. This strategy provides a feasible way for creditors to reclaim their funds.
This move comes as part of WazirX’s efforts to manage the aftermath of the significant security breach, ensuring that creditors have a tangible means of recovery.
The announcement highlights the exchange’s commitment to restoring confidence among its users and maintaining trust within the cryptocurrency community amidst challenging circumstances.
