Nishaanth Patlolla

It appears to be app szn.

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@NischalShetty You cant implement the social loss. That unfair. And you cant impose 2 options both are useless. Since some poeple's crypto is unaffected because we didnt invest in meme coins, you should let them withdraw their crypto. And for the people whose crypto got affected pay them slowly

1. We’re working on the feedback form. We will share it with a broader set of folks from the industry who have reached out to help (thank you) and then share it with our customers. 2. We’ve reached out to various partners in the ecosystem around the world to figure if they can help with more solutions. Multiple discussions are ongoing. 3. We continue to reach out to various project teams that can help fill the gap with any emergency funds they may have. We want to ensure we can reach consensus on the way forward in order to open up the platform again. Your feedback and suggestions will help us reach there faster if majority agree with a proposed solution 🙏

@smtgpt @NischalShetty We need your support @smtgpt because i have account with coindcx as well

Thanks @NischalShetty for acknowledging the gaps on current poll options and collecting ideas/suggestions from the community on the way forward. I understand it's a tough problem to solve and we are there to support every effort that is 'customer-centric'. I believe there is a pressure to act immediately but IMO there is no need to rush and the team should take time to carefully evaluate all options to bridge the gap (including first contribution from company assets including WRX token) as much as possible, if not the full $230M. Been myself thinking of various options that are best suited and practical in the current situation, and will come back to you on these soon.

@NischalShetty Unlock the crypto that has not been affected first because people who didnt invest in dog shit coins should not suffer. Social loss puts people with heavy portfolios as at a huge loss. Use company profits to pay people funds who ever got effected. @NischalShetty @WazirXIndia

Quick update about the poll. Your suggestions and feedback is how we'll be able to find a feasible solution 🙏

@WazirXIndia Let us withdraw our crypto into our external wallet or else get ready for major legal issues

Dear WazirX Tribe, We appreciate your active participation in our recent poll from 27 July 2024. We want to clarify that this poll is a preliminary step to understand your opinions and is not legally binding upon the users or the WazirX platform. We reassure you that this poll is not final; it is designed solely to gather your feedback, better understand your views, and then take action that is best for the community. Thank you for your invaluable feedback. Our team is currently reviewing all your inputs to devise a plan that truly aligns with the community's best interests. We aim to develop a plan that incorporates your collective voice and ensures a fair and effective outcome. We are committed to transparency and will continue to update you as we refine our approach based on your suggestions. As a next step, we will soon share a feedback form that will help us better understand the direction that would align with the community's best interests. Thank you for your patience and ongoing support as we work together to enhance our platform.

@smtgpt @WazirXIndia @WazirXIndia @NischalShetty especially people with huge portfolio in crores like me get effected the most. You have to compensate for my funds through your company assets because first of all the crypto should have been insured

@WazirXIndia @NischalShetty I have a very big portfolio in crores on your exchange. So if you do option A or B im at a huge loss. I do not accept option A or option B. I want 100% of my funds in either the crypto i invested or INR. It is your responsibility.i can sue you

@NischalShetty @NischalShetty @WazirXIndia

@NischalShetty Dude i have a lot of crypto and my funds were unaffected. Why would i get only 55%? Since my account is huge and comes in the top 1% i am effected the most. I do not agree to any of the two options you are forcing us to take. I will sue you and your company if you do this.

We’re listening to all the feedback from everyone. While the poll is ongoing, we’ll work on figuring some more options. Ultimately, we want to ensure we are able to find a path in the best interest of everyone. Only with your support we can move ahead.

@NischalShetty @NischalShetty @WazirXIndia

@NischalShetty How is it fair to give me 55% of assets which i dont want? And locking 45% of my funds in usdt? I want exactly the crypto i invested in that too my whole 100% assets. WazirX should take the blame and return funds just like mt gox did. You are theives if you are forcing 2 options

@NischalShetty I am going to sue you and your firm. My assets were not affected. And i want all my assets to be in the same crypto and to be able to withdraw them. Why is your compamy not bearing this loss? Why should unaffected users bare this loss?

I hear you but this is not feasible or sustainable as cost fluctuates every minute. In a bear market the price will be low and in bull price will be high. In order to be able to device plans for recovery, a stable value helps as that’s the final amount that need to be solved for 🙏

@NischalShetty Unaffected users should not be dragged into this you idiot. You cant force us to just choose from your 2 options. I am suing you and your exchange. Get ready

The fastest way to open the platform again for operations is to socialise the loss across the crypto portfolios. INR wallet balance will not be impacted. This partial lock is for crypto portfolio balance only. This is phase 1 so that part of the crypto portfolio is accessible to everyone. But this is not the end. This is the start of phase 2 where we work on recovery. Our recovery efforts will include working on recovery of stolen assets, finding partners and external help, airdrops/new token use cases etc. We’re also figuring how to help fill this with future profits of the exchange if we are able to grow the business. Recovery of such a large amount takes a longer time period. By socialising the loss similar to how other impacted exchanges have done in the past, we are in a position to open up the platform sooner for everyone. With your continued support, we will be able to: 1. Restart operations 2. Work on recovery by various methods In similar restructuring situations, users have often faced years of uncertainty and limited access to funds. Our 55/45 approach offers a faster, more flexible solution. This approach balances quick access for some with priority potential recovery for others, aiming to resolve the situation more efficiently than traditional proceedings 🙏

@NischalShetty Take some responsibility and return the users funds. My crypto assets were not effected. Why should i only get the 55% of my portfolio

MOST MINDBLOWING "It is conceivable that Tesla achieves a $30T market cap just based on Optimus and Autonomy alone. Optimus will probably be $25T and FSD will be $5T. I agree with Cathie Wood's $ARKK model for an $8T marketcap by 2029."

Kathie Wood quarantees Bitcoin will hit $2.3 million per BTC. Do I believe her? Yes I do. Kathie Wood is very smart. I trust her opinion. Could she be wrong? Yes. She could be. So what? The more important question is “ What do you believe?” What if Kathie is right? What if Kathie is wrong? And most importantly “How many Bitcoin do you own?” If Kathie is right I will wish I bought more. If she is wrong I will be glad to own zero. Most people will own zero regardless if Kathie is right or wrong. School is the only place on earth where “smart” people are people who never make mistakes. In the real world the richest and happiest people are people who make mistakes and learn from them their mistakes. God Bless Kathy Woods for her courage to make mistakes and learn from her mistakes. I too believe Bitcoin will reach $2.3 million. Take care. I suggest “Live dangerously.” If you can afford $. O1 Bitcoin, regardless if Kathie is right or wrong you will be better educated, smarter, wiser when it comes to Bitcoin. School is the only place on earth where “smart “ people are people