While replying to users’ queries under the Singapore court’s order, WazirX exchange has claimed that they mistakenly sent ”thank you for supporting WazirX” note to as many as 9000 users of the exchange via mail, while seeking support for their moratorium application with a controversial poll.
The revelation was made by WazirX management on Wednesday evening when they mailed their responses to users who asked questions during a September 26 dated Singapore court hearing.
“It had come to Zettai’s attention that an email intended only for users who had previously indicated their support for the moratorium was mistakenly sent to approximately 9,000 additional platform users who had not indicated support. This error understandably caused confusion among those users, and Zettai recognized that it may have impacted some users’ trust in the polling process. To address this mistake, on 7 September 2024, Zettai sent a follow-up email to the affected users to clarify the situation and provide an explanation,” read a response from WazirX.
To seek support for their moratorium application, WazirX had initially released an informal survey seeking users’ support for the application. However, at first, they only offered a “Yes” option for users to vote on. It was only at the orders of Singapore Court judge that WazirX management, that they introduced “No” and “No Position” voting options for users on September 12 and then concluded the poll on September 21.
WazirX Dubious Survey
The WazirX management had submitted the survey results to the Singapore Court stating that in the poll, 78,011 out of 4.4 million creditors participated, collectively representing claims of $82 million. Of these, 72,120 respondents voted in favor of the moratorium application, representing 92.45% of the claims, or around $64 million.
On the flip side, 1,491 creditors opposed the moratorium application, holding 1.91% of the claims, amounting to $203 million.
During the court hearing, a user named Ujjwal Rattan raised his concern in the chat section that they never participated, yet their votes were recorded in support after receiving an ‘Thank you’ email.
He highlighted that the actual voting with all three options started on September 13, while initially, only a ‘Yes’ option was available. WazirX had labeled the vote as informal previously, but now they are using these results in their affidavit.
It means users who opposed the moratorium had no option but to just ignore it. This could be the main reason why only 78,011 users participated in the poll and the majority voted for ‘Yes’.
However, after a court order, on September 12, WazirX added additional voting options—’No’ and ‘No Position’. Voting on the revised poll concluded on September 21.
However, controversy sparked when WazirX mistakenly sent “Thank you for voting Yes” emails to approximately 9,000 users who had not participated in the voting process at all.
This mistake has not only confused but also raised concerns about the integrity of the polling process. Later on, WazirX management stated that the emails were intended only for those who had shown their support for the moratorium. A follow-up email was sent on September 7 to apologize for the mishap.
Conclusion
WazirX did not hire an independent firm to check the poll results at first, but the court has now ordered that any future voting for court-related matters must be supervised by an independent party. This will provide great transparency to both, creditors and the court.
Also Read: I Don’t Have Power to Investigate WazirX Hack, says Singapore Judge Who Granted Moratorium
