WazirX CEO Nischal Shetty has been facing criticism from all sides, regardless of whether he remains calm or responsive to questions about the exchange’s restructuring process. Just a few days ago, WazirX announced that its leadership would be filing a restructuring plan with the Singapore Court in the coming days. This plan seeks permission to convene a meeting of creditors to present the proposed scheme of Arrangement for voting.
Nischal Shetty confirmed that the exchange has filed the scheme application in court, marking a crucial step towards getting support from WazirX customers for the proposed plan. Despite this progress, Nischal has been facing backlash for his responses on social media. He stated that people criticize him for both tweeting in response to questions and for remaining silent.
In response to false news circulating about WazirX, Nischal emphasized that some individuals do not want to see the exchange succeed and are spreading misinformation. Additionally, a Crypto X user announced plans to protest against WazirX at India Gate in New Delhi, inviting other victims to join in raising their voices against the exchange.
It has been over four months since the cyber incident that WazirX faced, yet a concrete plan to address the situation and regain the trust of customers has not been fully disclosed. Despite the challenges, Nischal remains committed to moving forward with the restructuring process and addressing concerns raised by the community.
As the situation unfolds, it is crucial for WazirX to maintain transparency and communication with its customers to rebuild trust and ensure a smooth transition towards a more secure and stable platform. Stay tuned for further updates on this developing story.