WazirX has announced that users will receive all the remaining funds starting July 18, 2024. However, many WazirX customers noted that the company might be trying to keep some of its decisions hidden, potentially indicating a negative outcome for customers.
In the latest town hall discussion, WazirX leadership confirmed that they would distribute customer funds from July 18, 2024. They also stated that they would not keep the gains from cryptocurrencies due to the market pump. In short, the money will go to WazirX customers only.
WazirX has announced that users will receive all the remaining funds from July 18th 2024.
WazirX will not keep any gains from bull run.
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This is a big relief.
— Justice for WazirX Users (@IndiasCrypto) October 4, 2024
Later, some WazirX users noted that the WazirX team made the video private on the X platform.
However, a Crypto X user successfully managed to retrieve an important portion of the video where they discussed this matter.
This Crypto X user suggested that WazirX might never allow crypto withdrawals, as it could lead to the platform’s downfall. They explained that if WazirX allowed users to sell their Bitcoin after a restructuring plan, a mass sell-off could crash the price on the platform, even if global prices remained high. As a result, many users would hold onto their BTC to avoid selling at a loss, effectively keeping users tied to the platform until prices stabilise.
These issues are creating significant concerns among WazirX customers. On one hand, customers are happy with the decisions regarding fund payouts, but on the other hand, WazirX leadership is treating these decisions cautiously. In short, there seems to be some conflict or lack of communication, or perhaps these statements were made to garner customer support only.
Read also: Kraken Secures Regulatory Green Light in Bermuda to Launch Crypto Derivatives Trading
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