WazirX Moves Closer to Restructuring With Singapore Court’s Latest Approval

Indian crypto exchange WazirX has been granted a court extension for its restructuring plan. The exchange is recovering from a $234M hack that occurred in July 2024. The restructuring plan was previously approved by 90% of the platform’s creditors. A Singapore court has granted the Indian cryptocurrency exchange WazirX an extension on a legal moratorium related to its ongoing restructuring efforts. The development is the latest in the exchange’s attempt to recover from a $234 million exploit linked to North Korean hackers that occurred nearly one year ago. In its latest announcement , the crypto exchange told users that the Court has granted its request to present further arguments in its application for the Court’s sanction of a proposed Scheme of Arrangement. Court Extends Moratorium, Delays Final Decision According to WazirX, the Court extended the initial deadline for the moratorium granted from June 6, 2025, until the disposal of the arguments. Hence, the exchange is waiting for the Court’s direction on the next steps ahead of a planned restructuring and compensation to users affected during the platform exploit. It is worth noting that the lat… The post WazirX Moves Closer to Restructuring With Singapore Court’s Latest Approval appeared first on Coin Edition .

Source: Coin Edition