WazirX users approve restructuring plan again after court rebuff

WazirX has been trying to get a restructuring plan through the Singapore High Court to start returning funds to users impacted by the $234 million hack in 2024.

Crypto exchange WazirX users are potentially one step closer to recovering funds more than a year after a $234 million hack of the exchange — with 95% of voting creditors greenlighting a new restructuring plan that had been shot down by the Singapore High Court earlier this year.

WazirX lost $234 million of crypto from a Safe Multisig wallet mid-July 2024 in an attack since attributed to North Korean hackers, forcing them to temporarily pause all crypto and Indian rupee withdrawals on the platform.

On Monday, WazirX founder Nischal Shetty said that if the Singapore High Court approves the latest restructuring proposal, the exchange would restart and begin compensating users within 10 days of “the scheme taking effect.” 

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