Finally, the WazirX CEO spoke about the new controversy surrounding the extension of WazirX’s refund restructuring period.
Yesterday, we reported that WazirX cryptocurrency exchange has secured court approval to implement the exchange’s restructuring plan. In an affidavit, WazirX exchange asked the court to extend the restructuring and refund process for another four months.
WazirX’s request for a four-month extension has created quite a controversy in the Indian cryptocurrency community. Many claimed that WazirX’s leadership wanted to extend the deadline for personal benefits and harm WazirX creditors.
A Crypto X user asked WazirX CEO Nischal Shetty about this new controversy. Nischal said the court has directed that a meeting (a necessary step before voting on anything) be held within the next three months, but the same should be done sooner as it is in the interest of all concerned. He said he intended to do so.
The court asked us to convene a meeting (which is necessary before going to a vote) within three months. We will do our best to respond quickly as it is in the best interest of everyone 🙏
— Nischal (Chardeum) 🔼 (@NischalShetty) January 23, 2025
Many Crypto X users pointed out that the WazirX CEO was trying to ignore key questions and misleading customers.
Watt, there’s still three months left… What Lord Watt is talking about… This is what I’m trying to prove! 🤔🤔🤔 It’s better to do one thing and take everything from everyone than toy with investors’ emotions 😡😡😡😡
— RD Balram Smart Steps (@SmartStepsDance) January 23, 2025
A reply tweet by a Crypto It also raises the question of whether they should be released. hacking incident.
The host of India’s popular crypto YouTube channel Engineer_explains said that such delays in the restructuring process and misleading statements are damaging the reputation of India’s crypto sector.
Ek kaam kar bhayi, Tu saare rakh le
Tumlogo ki niyat hi nahi hai dene ki
Yaha bahut sale log hain jo Financial issues are a waste of time for me to make excuses for you.
Tumne logo ko iss level ka stress diya hai ki ab wo paise…
— Engineer Xplains (@engineer_inside) January 23, 2025
Cryptocurrency influencer Aditya Singh pointed out that the WazirX team has also not been proactive in updating data related to Wazirx scheme timeline calculation and proof of reserve of user funds for the past three months.
Also read: WazirX receives court approval to repay 80% of funds, but 4-month delay triggers new claims – what it means for WazirX customers
