WazirX Latest Deal Raises Transparency Concerns

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WazirX has declared that it would have a 10-member Committee of Creditors (COC) that would act as the representative to the 4.4 million users in case there is a Rs 2000 crore cyber hack. The criteria for selection and the members remain unknown to the public. This is raising many eyebrows because of a lack of transparency. Such efforts by WazirX have only raised doubts among many users, who question whether this is an actual effort to close the saga or just another PR gimmick. Millions of user funds stuck for months, as many state, leave much skepticism about WazirX’s approach toward the crisis.