#LTC&XRPETFsNext? WazirX Bets on Recovery Token to Rebuild Trust, But Community Doubts Its Value?

Key Takeaways

WazirX CEO Nischal Shetty outlined a proposal for redistributing funds, urging users to vote in favor.

The proposal includes a recovery token (RT) to compensate for the remaining losses after the hack.

Critics warn the recovery token could further diminish the chances of full recovery.

WazirX, the crypto exchange that was hacked in July 2024, is facing intense scrutiny after CEO Nischal Shetty proposed a recovery plan to compensate users for lost assets

The plan hinges on the launch of a recovery token (RT), which Shetty believes could help make users whole again. However, many in the crypto community remain skeptical of the proposal’s viability.