WazirX users have voted overwhelmingly in favor of a new restructuring plan, with 95% of creditors approving it after the Singapore High Court previously rejected a similar proposal. This plan is aimed at compensating users for losses incurred from a $234 million hack in July 2024 that forced the exchange to halt withdrawals. If approved by the court, users could see compensation within 10 days, a significant improvement from previous expectations of a two to three month wait. The recent vote involved nearly 150,000 creditors representing over $206 million in lost funds. Unlike the earlier plan, which faced legal challenges due to concerns about compensation mechanisms, this proposal now has a revamped distribution strategy managed by Zanmai India. WazirX has warned that rejection of the plan could lead to longer recovery times through liquidation. While many users are hopeful, some are skeptical due to ongoing regulatory issues and potential losses related to tokens that have increased in value since the hack.

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