WazirX Plans Launching Recovery Token to Compensate Creditors

Quick Summary:

After suffering a $230 million breach, cryptocurrency exchange WazirX intends to launch a Recovery Token to pay off creditors.

According to the official announcement, creditors will have a concrete way to get their money back since the token would be airdropped to them based on their platform balance.

Included in the strategy are strategic business activities as well as the sale or liquidation of assets controlled by third parties.

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Article Details

Author / Journalist: Nayazunissa

Category: Crypto

Markets: United Arab EmiratesIndia

Topics: Exchange News WazirX Exchange

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 19:47:32 (2 weeks ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 269 words

Reading Time: 2 minutes read

Sentences: 24 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 23455798

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 26 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 12 hours ago

Coverage Areas: United Arab Emirates

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Website Security: Secure (HTTPS)

Publisher ID: #125

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