WazirX Ditches ‘Socialized Loss’ Strategy After Community Uproar

WazirX’s “socialized loss” strategy has received massive user pushback. Users concluded a poll to give feedback on the strategy on August 3. The exchange has reportedly abandoned the controversial plan. Indian crypto exchange WazirX is back to the drawing board after its attempt to reopen trading operations with 55% of user funds faced massive pushback on X (formerly Twitter).   The hacked trading platform floated a controversial “socialized loss” strategy on July 27, which sought to distribute the $234 million loss incurred equally among users. A poll to vote on the strategy opened on the same day and closed on

Continue reading on DailyCoin.