WazirX has launched new tools in its app to assist creditors in tracking their claims and balances during the platform’s restructuring. The recent update features a Preliminary Creditor List and an 18th July Page, which displays balance snapshots before and after the day of the hack to ensure that creditors’ claims are aligned with the restructuring process.
Additionally, WazirX has announced plans to migrate its wallet to enhance security and operational efficiency.
The Preliminary Creditor List allows users to check their claim amounts in USD using a unique identifier (UUID). The list does not display personal details to protect privacy, but creditors can request to inspect other claims as part of the inspection process.
The list is arranged in descending order of claim value, and WazirX has added a ‘Find My Balance’ feature for easier navigation.
“Creditors can now check their claim amount in USD using a unique UUID. The list is ordered by descending value of claims and can be searched using the UUID,” WazirX said.
The 18th July page provides a snapshot of each creditor’s token holdings and deposits as of 1 PM Indian Standard Time (IST) on July 18, 2024, the day of the hack. This page is accessible from the funds section and the app’s home page, allowing users to monitor their balances throughout the restructuring.
In addition to these updates, WazirX has announced plans to migrate funds from its cold wallets to new ones. The platform states that this move will improve fund security, streamline operations, and enhance overall fund management.
Last week, WazirX warned its creditors that if they do not vote in favour of the proposed restructuring plan, they will have to wait until 2030 to receive their payments because of the ongoing ownership dispute of the crypto trading platform. However, if the proposal is accepted, the creditors will receive the funds by April 2025.
The proposed restructuring plan involves multiple components, such as launching a decentralised exchange (DEX), white knight collaborations, and issuing tradable recovery tokens.
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