The WazirX management has announced that it will conduct voting of its near 4.4 million users on Kroll Information Services (KIS) platform from March 19-28 to get their redistribution scheme approved post the Rs 2000 crore hack last year. Incidentally, Kroll is the legal firm hired by WazirX to streamline their creditors’ claims post the suspension of the cryptocurrency exchange for the past 7 months.
The announcement by WazirX management was made through a townhall session broadcasted on YouTube on Wednesday evening wherein it was also explained that the results of voting will be out on April 11, 2025. Apparently, the Singapore Court overseeing the redistribution application of Zettai Pte Ltd- the parent company of WazirX management, had instructed them to use an independent third party platform for voting to ensure fairness.
“Please note that the only scheme creditors with approved claims will be entitled to vote on the proposed scheme of arrangement. Please note that the voting is to be only done via this platform (KIS) and not via any other means unless expressly provided for. You are also reminded again that regardless of your vote, or if you do not submit your vote, the scheme will be binding to you in the event of it getting approved,” read a statement from WazirX.
While WazirX is using its own legal partner to conduct voting of users, it has also assured to carry an audit by an independent assessor (IA) “Alvarez and Marsal (A&M)” after the week-long voting is concluded. The time frame given for IA to independently assess the voting is from April 1-8 after which the voting results will be declared on April 11, 2025.
Also Read: WazirX Rebalancing Done, But Will Creditors Recover Fully?
