The CEO of WazirX, Nischal Shetty, is facing criticism from all sides as the popular crypto exchange undergoes a restructuring process. Despite his efforts to remain calm and responsive to questions about the exchange’s future, people are not cutting him any slack.
Just recently, WazirX announced that its leadership is preparing to file a restructuring plan with the Singapore Court. This plan will seek approval to convene a meeting of creditors to present the proposed scheme of Arrangement for voting. Nischal Shetty confirmed that the scheme application has been filed in court, marking a crucial step towards garnering support from WazirX customers.
However, Nischal Shetty revealed that people are using his tweets against him, criticizing him for both responding to questions and remaining silent. In response to false news being spread about WazirX, he emphasized that certain individuals do not want to see the exchange succeed.
In a concerning development, a Crypto X user announced plans to protest against WazirX at India Gate, New Delhi, along with a group of friends. They are inviting other victims of WazirX to join the protest and raise their voices against the exchange’s alleged wrongdoings.
Despite more than four months passing since the cyber incident that rocked WazirX, a concrete plan to address the situation has yet to be presented to the public. The lack of clarity has left customers uncertain about the future of the exchange.
As WazirX navigates through this challenging period, it remains to be seen how the exchange will address the concerns of its customers and regain their trust. Stay tuned for further updates on this developing story.