Hack-hit WazirX’s customers to lose 43% of their funds

WazirX customers stand to lose at least 43% their money even as the cryptocurrency exchange, reeling from a nearly Rs 2,000-crore hack, plans to restructure its crypto balances.

Around 4 million Indian investors in cryptocurrencies will be adversely impacted due to a cyberattack on the exchange.

In a virtual press conference on Monday, WazirX co-founder Nischal Shetty, alongside Jason Kardachi, managing director at Kroll, and George Gwee, director of restructuring at Kroll, said that customers are unlikely to recover more than 57% of their funds, incurring a potential loss of around Rs 850 crore.