WazirX Launches Recovery Token for Outstanding Debt Settlement in Response to July Attack

On November 6th, according to an official announcement, Indian crypto exchange WazirX announced that it will launch a recovery token for outstanding debt settlement. The token will be airdropped according to the proportion of creditors' balance on the platform. The token will be airdropped according to the proportion of creditors' balance on the platform: 1. Future platform profits; 2. New business opportunities; 3. Third-party non-current asset realization; 4. Stolen asset recovery; 5. Funds brought by the White Knight proposal (usually refers to a third party willing to buy or invest in a troubled company at a high price to help it out of trouble).
The main use cases for recovery tokens include: 1. Repurchase, which enhances creditor asset recovery through repurchases and captures market opportunities; 2. Additional liquidity, which allows tokens to be traded on the open market based on creditor wishes, providing early access to funds and providing flexibility and immediate value.
Earlier in July, WazirX was hacked and lost more than $230 million.