Close Menu
  • Latest News
    • Market
    • Altcoins
    • Legal and Regulatory
  • Tech
    • Blockchain
    • Security and Privacy
  • Web 3
    • Web3 News
    • NFTs
    • Gaming
  • Learn
    • Education
    • Investments
    • Staking
    • Wallets and Exchanges
  • ICOs
  • Mining
  • Crypto Tools
    • Exchange Tool
  • Shop
What's Hot

Stellar retraces 37% after DTCC rally – Can XLM defend $0.183?

June 11, 2026

Genuity Subsidiary Millmerran Operating Company and ISN® Celebrate 10-Year Partnership Advancing Contractor and Supplier Compliance

June 11, 2026

Circle Introduces cirBTC on Ethereum

June 11, 2026
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Facebook X (Twitter) Instagram
CryptoPulseDaily.com
  • Latest News
    • Market
    • Altcoins
    • Legal and Regulatory
  • Tech
    • Blockchain
    • Security and Privacy
  • Web 3
    • Web3 News
    • NFTs
    • Gaming
  • Learn
    • Education
    • Investments
    • Staking
    • Wallets and Exchanges
  • ICOs
  • Mining
  • Crypto Tools
    • Exchange Tool
  • Shop
CryptoPulseDaily.com
Home»Wallets and Exchanges»WazirX Responds To Criticism Over Committee Selection Process, Ensures Transparency
Wallets and Exchanges

WazirX Responds To Criticism Over Committee Selection Process, Ensures Transparency

October 9, 20244 Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The WazirX team officially responded to criticisms regarding their process for selecting members for the Committee of Creditors (COC).

WazirX, once a leading Indian crypto exchange, suspended operations three months ago after losing 50% of customer funds due to a hack, amounting to $235 million in stolen cryptocurrency. The funds were laundered via Ethereum’s popular mixing platform, Tornado Cash.

A week ago, WazirX CEO Nischal Shetty annnouced to setup a committee to support voice of each WazirX customer.

Facing accusations from crypto influencers of creating fake customers to form the COC, WazirX released a detailed explanation of their selection process. The creditor base will be split into 10 equal tranches, each representing 10% of the total claims. From each tranche, 1% of users will be randomly invited to express interest in joining the COC. Finally, one respondent from each tranche will be selected, forming a 10-member COC to represent creditors’ interests in the restructuring process.

Here’s how the Committee of Creditors (COC) will be fairly formed to represent creditors’ interests in the restructuring process ???? pic.twitter.com/A3syJasD8s

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) October 8, 2024

WazirX emphasized that this transparent process will ensure the genuine interests of customers are represented, after backlash over their initial selection approach.

WazirX’s Third Town Hall Discussion

Just a few days ago, WazirX leadership addressed the ongoing restructuring and assured customers that any increase in the value of their crypto assets during the restructuring will not benefit the exchange. Initially, the video from the town hall was made private, but following customer demands and criticism, it was made public again.

See also  Binance-WazirX Conflict Results In ₹170 Crore Loss For WazirX Customers

Investigation in WazirX exchange Just a couple of days ago, Indian authorities responded to this matter to uncover the actual events surrounding the incident. So far, no new details have emerged in the public domain about the WazirX hacking incident, but it will be interesting to see the efforts by the regulatory bodies in this situation.

Read also: CryptoCom Exchange Files Suit Against American Securities Regulatory Body SEC



Source link

Committee Criticism Ensures Process responds Selection Transparency WazirX
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto’s killer app may be selling stocks after its own tokens failed retail

June 10, 2026

FTX token (FTT) spikes 50% as Sam Bankman-Fried seeks presidential pardon

June 9, 2026

Crypto exchanges are losing retail traders but are filling the gap with Wall Street-style bets

June 6, 2026

Crypto Clarity Act in spotlight for bad-actor provisions as Senate process grinds forward

June 5, 2026
View 4 Comments

4 Comments

  1. situs toto on October 9, 2024 11:36 am

    selamat datang di bandar togel online terbaik, situs toto resmi dan terpercaya

    Reply
  2. nagano tonic on October 9, 2024 1:53 pm

    nagano tonic: nagano tonic

    Reply
  3. nagano tonic on October 9, 2024 2:10 pm

    nagano tonic: nagano tonic

    Reply
  4. مقاييس الشاحنات العراق on October 10, 2024 4:36 am

    شركة Bwer هي أحد الموردين الرئيسيين لموازين الشاحنات ذات الجسور في العراق، حيث تقدم مجموعة كاملة من الحلول لقياس حمولة المركبات بدقة. وتغطي خدماتها كل جانب من جوانب موازين الشاحنات، من تركيب وصيانة موازين الشاحنات إلى المعايرة والإصلاح. تقدم شركة Bwer موازين شاحنات تجارية وموازين شاحنات صناعية وأنظمة موازين جسور محورية، مصممة لتلبية متطلبات التطبيقات الثقيلة. تتضمن موازين الشاحنات الإلكترونية وموازين الشاحنات الرقمية من شركة Bwer تقنية متقدمة، مما يضمن قياسات دقيقة وموثوقة. تم تصميم موازين الشاحنات الثقيلة الخاصة بهم للبيئات الوعرة، مما يجعلها مناسبة للصناعات مثل الخدمات اللوجستية والزراعة والبناء. سواء كنت تبحث عن موازين شاحنات للبيع أو الإيجار أو التأجير، توفر شركة Bwer خيارات مرنة لتناسب احتياجاتك، بما في ذلك أجزاء موازين الشاحنات والملحقات والبرامج لتحسين الأداء. بصفتها شركة مصنعة موثوقة لموازين الشاحنات، تقدم شركة Bwer خدمات معايرة موازين الشاحنات المعتمدة، مما يضمن الامتثال لمعايير الصناعة. تشمل خدماتها فحص موازين الشاحنات والشهادات وخدمات الإصلاح، مما يدعم موثوقية أنظمة موازين الشاحنات الخاصة بك على المدى الطويل. بفضل فريق من الخبراء، تضمن شركة Bwer تركيب وصيانة موازين الشاحنات بسلاسة، مما يحافظ على سير عملياتك بسلاسة. لمزيد من المعلومات حول أسعار موازين الشاحنات، وتكاليف التركيب، أو لمعرفة المزيد عن مجموعة موازين الشاحنات ذات الجسور وغيرها من المنتجات، تفضل بزيارة موقع شركة Bwer على الإنترنت على bwerpipes.com

    Reply
Leave A Reply Cancel Reply

Top Posts

DTCC bets on blockchain by acquiring digital infrastructure company amid Bitcoin ETF optimism

December 12, 2023

Is the Downtrend Just Getting Started?

June 12, 2023

California court dismisses Coinbase user’s challenge to IRS summons

March 21, 2026

Subscribe to Updates

Get the latest creative news From Crypto Daily Pulse directly in your Inbox!

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Crypto, ICOs, Web3, Blockchain and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Stellar retraces 37% after DTCC rally – Can XLM defend $0.183?

June 11, 2026

Genuity Subsidiary Millmerran Operating Company and ISN® Celebrate 10-Year Partnership Advancing Contractor and Supplier Compliance

June 11, 2026

Circle Introduces cirBTC on Ethereum

June 11, 2026
Get Informed

Subscribe to Updates

Get the latest creative news From Crypto Daily Pulse directly in your Inbox!

  • Contact
  • Privacy Policy
  • Terms & Conditions
© 2026 Crypto Pulse Daily - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

Cleantalk Pixel
  • bitcoinBitcoin(BTC)$62,524.001.68%
  • ethereumEthereum(ETH)$1,650.191.35%
  • tetherTether(USDT)$1.00-0.06%
  • binancecoinBNB(BNB)$594.761.25%
  • usd-coinUSDC(USDC)$1.000.00%
  • rippleXRP(XRP)$1.12-0.27%
  • solanaSolana(SOL)$65.020.86%
  • tronTRON(TRX)$0.3215010.05%
  • Figure HelocFigure Heloc(FIGR_HELOC)$1.02-0.79%
  • dogecoinDogecoin(DOGE)$0.0848241.07%