WazirX’s Plan to Distribute Recovered Assets via RT Tokens and Potential Listing for Trading
WazirX, one of India’s leading cryptocurrency exchanges, is making waves in the crypto world with its new initiative involving the issuance of RT tokens. These Recovery Tokens (RT) are set to be used for distributing recovered assets to users who were affected by the exchange’s previous security breach, which resulted in the loss of $234 million in user funds. WazirX founder, Nischal Shetty, shared this news with the public on February 10, 2025, signaling a commitment to making users whole again while introducing an innovative way to recover assets in the crypto space.
Once created, the RT tokens will represent a percentage of the recovered monies and will be distributed to holders to help restore the lost assets. The value of these tokens will be determined by the overall value of the stolen assets, guaranteeing that customers whose funds were compromised have an equal chance of getting appropriate compensation.
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In an intriguing development, Shetty mentioned that WazirX may list these RT tokens for trade based on customer demand. This could provide a secondary source of liquidity and market exposure, increasing the tokens’ value in the larger crypto ecosystem. This plan is unprecedented, with Shetty emphasising that the recovery process might be one of the fastest in the history of the bitcoin business.
WazirX’s rebalancing of Nett Liquid Platform Assets (NLPA) is also an important aspect of this endeavour. The rebalancing procedure, which balances the token denominations of the platform’s assets with its liabilities, was successfully completed, opening the way for the issuance of RT tokens.
WazirX’s introduction of RT tokens intends to provide a transparent and user-friendly manner of compensating harmed users while also creating a possible market investment opportunity. This will most likely set the standard for other exchanges that encounter similar issues in the future.
