WazirX Completes Asset Rebalancing Process, Sets Stage for Token Distribution
Bengaluru: WazirX, a leading cryptocurrency exchange, has announced the completion of its asset rebalancing process, a crucial step towards addressing the asset deficit caused by a cyberattack in 2024.
The rebalancing process, finalized in January 2025, involved aligning token denominations with liabilities associated with the platform. The company worked closely with financial advisors, specialist brokerages, and other professional teams to execute trades securely and realign holdings.
The distribution of tokens, representing approximately 85% of creditors’ balances, will commence after a majority of users vote in favor of the Scheme. This distribution is expected to be one of the fastest in the crypto industry’s history, with the company aiming to complete the process within a year of the withdrawal freeze in July 2024.
Nischal Shetty, Founder of WazirX, stated, “We are grateful to have reached this critical milestone. Completing the rebalancing process and preparing for distribution demonstrates our commitment to protecting creditor interests and restoring trust in the platform.”
The company has also announced that subsequent distributions will be made over a period of three years as more assets are realized from illiquid asset recoveries and shared profits generated through future operations.
