WazirX hack: Users unlikely to get full amount

USERS of crypto exchange WazirX, which was hacked in July resulting in the theft of digital assets worth above 2,000 crore, may not receive their funds in full.

- UMA KANNAN

In a virtual conference on Monday, George Gwee, director, restructuring, Kroll and Jason Kardachi, MD, Kroll (financial advisor for WazirX), explained the current situation of the exchange. As per legal advisors, customers will get a return of 55-57% of the funds.

This means, 43% of the money may not be recovered. Founder and CEO Nischal Shetty said they are in negotiation and in ideation stage, and not in a position to say much.