WazirX, India’s top cryptocurrency exchange, plans to issue RT tokens to compensate users for the $230 million lost in a July 2024 hack. The tokens will represent stolen funds, with their value increasing as money is recovered. If users approve the recovery plan, the first wave of funds will be distributed in 10 days.
The RT token will serve as compensation, with its value linked to the recovery of stolen funds. WazirX will implement a "rebalanced portfolio" and require user votes to proceed with compensation. If the recovery plan is approved, funds will be disbursed; otherwise, issues with WazirX's ownership dispute must be resolved first.
Abstract Chain's game, Cardex, was exploited on February 18, 2025, resulting in losses of up to $100,000 in Ethereum. The vulnerability has since been patched, and Abstract clarified the exploit was limited to Cardex and unrelated to the new Abstract Global Wallets (AGW).
WazirX’s RT token aims to compensate users for the hack, while Abstract Chain quickly fixed the Cardex vulnerability and is exploring compensation for affected users. Both incidents stress the need for robust security measures and transparent recovery plans in the crypto world.