WazirX forma un Comité de Acreedores ya que el 13% de los usuarios reclama el 92% de los fondos
WazirX está considerando a todos los usuarios con saldos en el intercambio en el momento del hack de 230 millones de dólares como acreedores contingentes no garantizados. La empresa matriz Zettai Pte Ltd. también está formando un Comité de Acreedores (COC). El comunicado dice que el COC consultará con la empresa y sus asesores, proporcionará comentarios sobre las prioridades de los acreedores y supervisará el progreso de la reestructuración. Sin embargo, se informa que el papel del COC es consultivo y la empresa no está obligada a incorporar todas las recomendaciones en el proceso de reestructuración.
Día 78 #WazirX @NischalShetty , ¿cuáles serán los beneficios de convertirse en miembro de este comité si no implementa ninguna sugerencia de los miembros del COC en este plan de reestructuración de acreedores? @WazirXIndia Haga lo que quiera, pero nunca intente jugar con los sentimientos de los usuarios. pic.twitter.com/5TV4eJkzYU
- Sandeep Jaswal (@iSandeepJaswal) 3 de octubre de 2024
The exchange says that the identity of each COC member will be kept secret from the general group of creditors for privacy and security reasons unless asked otherwise by the member. Once a user accepts a role in the committee, the statement adds, “COC members will need to attend COC meetings to be able to discharge their responsibilities as a COC member.” The company rules add a list of codes of conduct for COC members. For instance, inactive members will be removed from the COC. They also need to disclose any potential conflict of interest and adhere to the confidentiality policy. Meanwhile, COC members have the same scheme voting rights as general creditors.
For the formation of the COC, creditors will be segmented into tranches based on claim value. 1% of creditors from each tranche will be randomly selected for the COC.
As per the company statement, phase 1 will be completed by October 3 and Phase 2 will conclude by October 9, 2024.
The July hack reportedly impacted 40-50% of the customer funds with WazirX. Under phase 2, the exchange claims to be allowing up to 66% of the fund withdrawals to its users. Meanwhile, the company is under the 4-month moratorium granted by the Singapore courts last month. The COC is part of the conditions imposed by the court. The court mandated that the company respond to user queries and keep independence in its decisions.
WazirX users are also disappointed that the Indian government has not issued a statement on the hack despite imposing a crypto transaction tax of 30%. As per the official data of the exchange, WazirX had 16 million registered users. According to Moneycontrol, only 4.4 million users had crypto balances at the time of the hack. The recent statement confirms, “The Creditor base is presently heavily weighted by count towards low value Claims, with 87% of Creditors by count representing less than 8% of the total Claims by value.”
According to these figures, 13% of users have a claim to 92% of total funds with the exchange. Hence there seems to be only 572,000 high-value claims among the WazirX creditors at the time of the hack.
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