Legal advisor: It is almost impossible for WazirX customers to receive full compensation for their crypto assets through restructuring

Legal counsel for Indian cryptocurrency exchange WazirX said that the possibility of full compensation of crypto assets for customers through the restructuring process is extremely low. WazirX co-founder Nischal Shetty revealed in a conference call with reporters on the same day that, based on the current situation, at least 43% of customers' funds may not be recovered. George Gwee, director of restructuring expert Kroll, pointed out that in the best case, customers may recover 55% to 57% of their funds. In July this year, WazirX was hacked and lost $234 million, accounting for about 45% of customer funds. The exchange previously stated that it could only open access to the remaining 55% of funds to customers. Legal counsel emphasized that the possibility of recovering funds denominated in US dollars depends on market improvements. The WazirX team said it will make various efforts to narrow the funding gap, but it is difficult to fully make up for the losses. (Coindesk)