WazirX to set up creditors’ panel by October 9

BENGALURU: Crypto exchange WazirX has said it will initiate the process of forming a Committee of Creditors (COC) by October 9, and it aims to hold the first COC meeting within a week of the formation of the COC.

Creditors, who are users affected by the hack, will be sorted in terms of smallest claims to largest and with this overall list being broken into 10 separate tranches each representing 10% of claims, with the sum of all tranches amounting to $546.5 million of claims, WazirX said.