Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    image 101
    CryptoNewsSponsored Article

    Best Crypto Presale: Could MoonBull Be the Best New Coin to Join Today as Floki Grows and Pepe Upgrades Dominate October?

    Best crypto presale opportunities are lighting up the market this week, giving…

    By
    Benedikt Krüger
    October 7, 2025
    BNB Chain Integrates Chainlink Data Standard to Stream U.S. Economic Data Onchain
    NewsBlockchainCryptoMarket
    BNB Chain Integrates Chainlink Data Standard to Stream U.S. Economic Data Onchain
    October 7, 2025
    MetaMask to Distribute $30 Million Through New Rewards Program
    NewsCryptoMarket
    MetaMask to Distribute $30 Million Through New Rewards Program
    October 7, 2025
    Trump’s Tariff Stimulus Proposal Sparks Talk of Crypto Liquidity Surge
    NewsCryptoMarket
    Trump’s Tariff Stimulus Proposal Sparks Talk of Crypto Liquidity Surge
    October 7, 2025
    BTC and ETH ETF
    NewsBitcoinEthereumMarket
    Why Bitcoin and Ethereum ETFs Are Seeing Unprecedented Institutional Inflows in 2025
    October 7, 2025
  • Cryptocurrency
    image 101
    Best Crypto Presale: Could MoonBull Be the Best New Coin to Join Today as Floki Grows and Pepe Upgrades Dominate October?
    8 Min Read
    BNB Chain Integrates Chainlink Data Standard to Stream U.S. Economic Data Onchain
    BNB Chain Integrates Chainlink Data Standard to Stream U.S. Economic Data Onchain
    6 Min Read
    MetaMask to Distribute $30 Million Through New Rewards Program
    MetaMask to Distribute $30 Million Through New Rewards Program
    8 Min Read
    Trump’s Tariff Stimulus Proposal Sparks Talk of Crypto Liquidity Surge
    Trump’s Tariff Stimulus Proposal Sparks Talk of Crypto Liquidity Surge
    6 Min Read
    BTC and ETH ETF
    Why Bitcoin and Ethereum ETFs Are Seeing Unprecedented Institutional Inflows in 2025
    6 Min Read
    image 90
    Bonk Price Prediction 2025: Will BONK Moon to $0.00005, as MoonBull Ignites the Best Crypto Presales to Buy Now?
    10 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: WazirX Plans Issue of RT Tokens to Distribute Recovered Assets, Mulls Listing Tokens for Trading
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > News > Stocks > WazirX Plans Issue of RT Tokens to Distribute Recovered Assets, Mulls Listing Tokens for Trading
NewsMarketStocks

WazirX Plans Issue of RT Tokens to Distribute Recovered Assets, Mulls Listing Tokens for Trading

WazirX Plans Issue of RT Tokens to Distribute Recovered Assets, Mulls Listing Tokens for Trading
Isha Jane
Last updated: February 11, 2025 1:34 pm
By
Isha Jane
Published February 11, 2025
6 Min Read
Share

Indian cryptocurrency exchange WazirX, which suffered a major $234 million security breach in 2024, has announced a recovery plan using RT tokens to compensate affected users. According to Nischal Shetty, the founder of WazirX, the exchange will issue Recovery Tokens (RTs) to distribute recovered assets fairly among users.

Contents
  • WazirX Plans Issue of RT Tokens to Distribute Recovered Assets – A Strategy for User Compensation
  • WazirX Mulls Listing Tokens for Trading – Possible Market Recovery?
  • How Does the WazirX RT Token Plan Compare to Other Crypto Recovery Efforts?
  • Conclusion: A Positive Step Amid Challenges
  • FAQs
    • What are RT tokens?
    • Will WazirX list RT tokens for trading?
    • How is WazirX ensuring fairness in RT token distribution?
    • Can RT tokens appreciate in value?
    • How long will the RT token distribution process last?
  • Glossary of Key Terms
  • References

Additionally, if there is enough community interest, WazirX may list RT tokens for trading, potentially opening new opportunities for liquidity and market participation.

In a social media post, Shetty confirmed,

“We will issue RT tokens and use them to distribute any future recovered funds to token holders. If enough people are interested, we may also list RT tokens for trading.”

This decision comes after WazirX completed its Net Liquid Platform Assets (NLPA) rebalancing, ensuring that platform liabilities align with available token reserves.

WazirX Plans Issue of RT Tokens to Distribute Recovered Assets – A Strategy for User Compensation

Following the HackWazirX incident, the exchange aims to prioritize user compensation through its RT token distribution plan. The value of RT tokens will be directly tied to the total value of recovered assets, ensuring transparency and fairness.

WazirX rebalanced its asset portfolio, aligning it with platform liabilities before proceeding with RT token issuance. All rebalanced assets listed on the platform will be part of the first wave of distributions once trading resumes.

RT Tokens
RT Tokens

In a statement, Jason Kardachi, Managing Director and Co-Head of Kroll’s global restructuring practice emphasized the importance of careful planning:

“The successful completion of the rebalancing process underscores the importance of careful planning, collaboration, and a dedication to fairness.”

According to WazirX’s announcement, affected users will be able to claim their RT tokens and later trade them, subject to listing approval and sufficient market interest.

WazirX Mulls Listing Tokens for Trading – Possible Market Recovery?

Apart from issuing RT tokens, WazirX is considering listing these tokens for trading, potentially offering affected users a new way to benefit from price movements.

The exchange secured approval from the Singapore High Court in January 2025 for its restructuring plan, filed by parent company Zettai. This legal backing strengthens the RT token strategy as a court-supervised approach to avoid liquidation.

RT Tokens
RT Tokens

Under this scheme:

  • RT token holders will receive compensation based on recovered funds.
  • Trading of RT tokens may allow for price appreciation.
  • Further distributions may continue for three years as additional stolen assets are recovered.

This approach offers a structured, long-term recovery plan rather than a one-time compensation payout, aligning with creditor-first recovery principles.

How Does the WazirX RT Token Plan Compare to Other Crypto Recovery Efforts?

Compared to past crypto recovery plans, WazirX’s strategy stands out due to its transparency and legal backing. Many exchanges facing security breaches have struggled with compensation plans, often leading to lengthy legal battles.

Key Differences in WazirX’s Approach:

  1. Fastest Distribution Process:
    • Shetty claims the RT token rollout is among the fastest in the crypto industry, ensuring users receive compensation quickly.
  2. Legal Supervision Ensures Accountability:
    • Unlike other exchanges that relied on self-directed recovery efforts, WazirX operates under Singapore High Court guidance.
  3. Token-Based Compensation Instead of Fiat Payments:
    • Rather than paying users in fiat currency, RT tokens allow for potential price appreciation, offering users a market-driven recovery opportunity.

These elements position WazirX as a potential leader in transparent, user-first recovery efforts.

Conclusion: A Positive Step Amid Challenges

Despite the significant losses from the HackWazirX breach, WazirX’s issuance of RT tokens and the consideration of listing them for trading mark a major step toward rebuilding user trust and market confidence.

While investors should remain cautious, this strategy could:

  • Help affected users recover lost funds through RT token holdings.
  • Provide market-driven liquidity opportunities if the tokens are listed.
  • Showcase a legal and transparent approach to crypto exchange recovery.

As WazirX navigates its post-hack recovery, traders and investors will closely watch the success of RT token distribution and its impact on the broader crypto market. Keep following Deythere and keep an eye on crypto trends and analysis.

FAQs

  1. What are RT tokens?

WazirX issues RT tokens (Recovery Tokens) to compensate users affected by the 2024 security breach. The value of these tokens is linked to recovered assets.

  1. Will WazirX list RT tokens for trading?

Yes, if enough people are interested, WazirX may list RT tokens, allowing users to buy, sell, or trade them on the platform.

  1. How is WazirX ensuring fairness in RT token distribution?

WazirX has rebalanced its asset portfolio, aligning platform reserves with liabilities. The Singapore High Court also supervises the restructuring plan to ensure fair compensation.

  1. Can RT tokens appreciate in value?

Since RT tokens are linked to recovered funds, their value may rise if additional assets are recovered or if demand increases upon listing.

  1. How long will the RT token distribution process last?

The distribution process is expected to continue for three years, with subsequent payouts as more stolen assets are recovered.

Glossary of Key Terms

HackWazirX: The security breach that led to the loss of $234 million from the exchange.

Recovery Tokens (RT): Digital tokens issued to compensate affected users based on recovered assets.

Net Liquid Platform Assets (NLPA): The rebalanced token reserves ensure platform stability.

Short-Term Trading: Buying and selling assets within a brief period to capitalize on price fluctuations.

Singapore High Court Restructuring Plan: A court-supervised recovery framework to prevent liquidation.

References

  1. WazirX Official Blog – WazirX.com
  2. Nischal Shetty Twitter Statement – @NischalShetty
  3. Kroll Restructuring Report – Kroll.com
  4. Singapore High Court Records – Singapore Courts
  5. Cryptonews Coverage – Cryptonews.com

Advertising

For advertising inquiries, please email . [email protected] or Telegram

Is a Major Crypto Boom on the Horizon? Analyst Highlights Key Dates

TON Network Goes Down for Second Time in 2 Days as DOGS Memecoin Surges

Neiro’s Run Made Waves—But Troller Cat’s Just Getting Started With $225K Raised

How Bitcoin Boosts Tesla Earnings by $284M as New GAAP Rule Kicks In

Nigeria Introduces Crypto Licensing and New Taxation Rules

TAGGED:RT tokensWazirX

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article Solana SOL with a glowing price chart indicating a 92 surge potential. The image includes a digital m Solana’s Massive Profit Opportunity: 92% Surge Potential!
Next Article Stablecoin de US$ 1 Apoiada por Trump Entra em Operação na Aptos com Integração de Cartão de Débito Aptos (APT) Price Prediction 2025, 2027, and 2030: Will APT Break New Highs? 
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production
crypto 2024 1200x720
Decentralized Identity Emerges as a Catalyst for Data Privacy Renaissance
space
Tech Giant Announces Breakthrough in Quantum Computing
worldwide protest
Worldwide Protests Demand Action on Climate Change
global
Global Economic Forecast Reveals Slow Recovery Post-Pandemic
solar power
Revolutionary Solar Power Technology Unveiled

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
© DT News. All Rights Reserved.
Banner 1
Banner 2
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English