Singapore court approves WazirX restructuring plan after $234M hack

The Singapore High Court’s approval clears the way for WazirX to restart operations and begin compensating more than 150,000 users.

Crypto exchange WazirX has finally secured approval from the Singapore High Court for its restructuring plan, paving the way for user repayments following the $234 million hacking incident last year. 

The court’s decision comes weeks after creditors backed a revised proposal. The approval allows WazirX to start the next phase of its recovery process, including token-based fund distributions and reviving the exchange’s operations.

“Thank you to everyone who supported this difficult phase of WazirX. The Singapore High Court has approved the scheme,” WazirX founder Nischal Shetty said in a post on X. “It’s your support and love that has made this possible.”

Read more