Creditors of WazirX have expressed their backing for a proposed restructuring plan aimed at addressing the repayment of $230 million to victims affected by a significant hack. This hacking incident has raised substantial concerns regarding security within the cryptocurrency exchange framework. The plan, if approved, seeks not only to compensate victims but also to stabilize the exchange's operations post-crisis. In light of this situation, stakeholders from various sectors have been prompted to reevaluate security measures and risk management strategies in cryptocurrency platforms to prevent similar occurrences in the future. The restructuring proposal highlights the need for clear processes and governance structures to safeguard user funds and restore confidence in centralized exchanges amidst growing scrutiny from users and regulators alike.

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