WazirX launches recovery token for outstanding debt repayment in response to July attack

On November 6th, according to an official announcement, Indian cryptocurrency exchange WazirX announced that it will launch a recovery token for unpaid debt. The token will be airdropped based on the balance ratio of creditors on the platform. The token will be airdropped based on the balance ratio of creditors on the platform: 1. Future platform profits; 2. New business opportunities; 3. Third-party non-liquid asset realization; 4. Recovery of stolen assets; 5. Funds brought by White Knight proposals (usually referring to a third party willing to purchase or invest in a company in distress at a high price to help it out of its predicament).

The main use cases of the recovery token include: 1. Buyback, which enhances the asset recovery of creditors through buybacks and captures market opportunities; 2. Additional liquidity, that is, the token can be traded on the public market according to the creditor's wishes, obtaining funds in advance, providing flexibility and immediate value.

In previous news in July, WazirX was hacked and lost more than 230 million US dollars.