BENGALURU: About 93% of voting creditors of crypto exchange WazirX have voted in favour of the platform's restructuring plan.
Zettai Pte, the parent of WazirX, on Monday announced that its proposed Scheme of Arrangement has received overwhelming support from creditors in the recently concluded voting process. "All creditors with crypto balances on the WazirX platform were eligible to vote for the proposed restructuring filed in the High Court of Singapore.
The voting process was conducted on the Kroll Issuer Services platform from March 19 to March 28," it said.
"We are grateful for the strong vote of confidence," said Nischal Shetty, Founder of WazirX. "This consistent support across our entire base demonstrates shared belief in our restructuring approach and recovery plan," he added.
A cyberattack on WazirX had led to the theft of about Rs 2,000 crore worth of funds.
Zettai said with the verified voting results, the next step will be the sanction by the Singapore Court. Zettai will file an application with the Singapore Court for the sanction of the creditor-approved Scheme. Once the filing is accepted by the Singapore Court, Zettai will issue an update to all Scheme Creditors with a copy of the legal filings, it added.
The first distribution will begin within 10 business days of the Scheme becoming legally effective, and the resumption of withdrawals, and trading, will happen in phases, to ensure compliance with regulatory guidelines while prioritizing user accessibility, it further added.