George Gwee, a director at restructuring firm Kroll working with WazirX, said that at least 43% of the money any customer had in WazirX is unlikely to be recovered. Last week, WazirX asked a Singapore High Court for six months’ protection while it restructures its liabilities.
The best case scenario is a return of “anywhere between 55% and 57% of the funds,” Gwee told journalists. Under a restructuring, WazirX’s priority will be to distribute remaining token assets to users in a pro-rata manner via crypto, it said. The company is holding discussions to share profit from its revenue-generating products, it added, without giving any concrete details.