It seems that WazirX’s CEO is ready to face any type of criticism and work on any plan that has the potential to compensate customers.
As we previously reported, WazirX crypto exchange announced its plan to reopen crypto trading services and launch a new decentralised exchange (DEX) with a new token to increase the company’s revenue, enabling it to compensate customers as soon as possible.
Following his plan announcement, critics voiced objections to WazirX leadership. In particular, crypto influencer Aaditya Singh questioned why WazirX leadership planned for a DEX, despite knowing that DEXs are often not effective enough. He alleged that WazirX CEO Nischal Shetty is very skilled at manipulating people.
Nischal Shetty likely responded to such criticism and indirectly stated that WazirX leadership will pursue all possible actions to address the damage from the cyberattack that led to a loss of nearly 50% of customers’ funds.
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Now it will be interesting to see the success level of WazirX leadership with this new plan. Additionally, it will be worth noting when they finally unlock crypto asset trading, as the majority of WazirX customers are concerned about missing out on the latest bull run, with crypto asset prices surging while they are unable to trade their assets.
While WazirX announced its plan to reopen crypto trading on November 6, 2024, they have not specified an exact date for when trading services will go live.
At the time of publishing this article, the Bitcoinik.com team checked the WazirX app to see if trading was live and found that trading is still suspended, with no exact reopening date provided.
WazirX Token Price Action
Following WazirX leadership’s announcement of future plans to compensate customers and introduce new crypto products, the trade price of WazirX token ($WRX), the native token of the exchange, surged by 9.3% within 12 hours.