Following a $230 million loss from a hack last month, the beleaguered cryptocurrency platform WazirX stated on Friday that it will allow investors to withdraw up to 66% of their Indian Rupee (INR) assets beginning on August 26.
This would include implementing the withdrawals gradually.
An investor would be allowed to withdraw around half of the 66% cap the cryptocurrency exchange has placed between August 26 and September 8.
Users can take their remaining funds out between September 9 and September 22.
"At the moment, 34% of INR balances are frozen and cannot be withdrawn right away because of ongoing legal challenges and specific investigations by several law enforcement organizations that are supporting (and It is not the subject of these inquiries," The company said.
The company said that as part of the arrangement, its withdrawal fees had been lowered from Rs 25 to Rs 10.