Moratorium Madness: WazirX Gets 4 Months, Users Get the Waiting Game!

After the $234 hack, WazirX have become a mess with many attempts to restore their internal economy to fulfill and pay all their creditors amount. The attack on their infrastructure which took all those funds shake all the business and they were forced to run to grant a moratorium in a Singapore court.

After weeks of analysis a judge decided to grant them a moratorium of four months (initially the WazirX team asked for 6), but under certain conditions:

1. The Indian platform should reveal the addresses of its Wallets through a court affidavit.,
2. They should respond to users' queries, revealing its book of accounts within six weeks.,
3. And they should ensure that any future voting on the way ahead is conducted on an independent platform.

But what is a Moratorium?

A Moratorium is a legal process that ensure the part who ask for it is protected by law to not suffer another lawsuit when they stay looking for a solution to their recent problems. It means, no user, partner should sue Wazirx while they work in a structure plan of recovery.

This is another form to delay pay all the money they owe creditors and keep pushing the process forward and now protected with the Moratorium. The all process started wrong and WazirX team didn't handled the exploit the correct manner. They kept finding temporary solutions for a major problem after all, creditors want their money and the platform doesn't have any!

This Moratorium won't bring nothing in those four months if the platform doesn't have funds to repay customers and what they need is to find partners to help them pay all that money or else ask for bankruptcy. Remember:

CONTENT IS KING!