Over 90% of the voting creditors of WazirX, an Indian crypto exchange, approved a post-hack restructuring plan aimed at asset recovery. A vote conducted from March 19 to March 28 saw 93.1% of creditors favor the plan, which is crucial after a $235 million hack. CEO Nischal Shetty highlighted a primary focus on recovering stolen assets and plans for profit sharing to compensate users. The restructuring was developed under Singapore's legal framework, indicating a significant milestone in recovery efforts. WazirX holds liquid assets of $566.4 million against claims of $546.5 million. Creditors will receive recovery tokens linked to future operations and profits generated, potentially yielding 75-80% of their account balances. Shetty also announced measures for enhanced security against future hacks, including partnerships with BitGo and Zodia for crypto custody. Despite the approval for restructuring, hacks in the broader crypto space remain a pressing concern, with significant losses reported in early 2025.

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