WazirX

WazirX is a cryptocurrency exchange platform designed to facilitate the buying, selling, and trading of digital assets. It provides users with a centralized environment to manage their cryptocurrency portfolios, offering features such as liquidity, fiat integration, and advanced trading tools. The platform supports various cryptocurrencies, allowing users to engage in diverse trading strategies.

One of the key aspects of WazirX is its focus on user recovery and platform stability. Following a significant cyberattack, WazirX has implemented a recovery strategy that includes the issuance of recovery tokens. These tokens are intended to allow creditors to benefit from future profits generated by the platform's operations, including a proposed decentralized exchange (DEX). This approach aims to provide users with a structured method for recovering losses over time.

WazirX operates within a legal framework that supports debt restructuring and asset recovery, utilizing mechanisms like the Singapore Scheme of Arrangement. This framework allows the platform to reorganize its debts and obligations, ensuring a more equitable resolution for users. By integrating these recovery measures, WazirX seeks to enhance user trust and stability in the cryptocurrency market.