WazirX to reopen within 10 business days after Singapore High Court approval

The Singapore High Court approved the reorganization plan of the parent company of WazirX, Zettai Pte Ltd, after the hack of July 2024 that stole $234 ￰0￱ court had sanctioned the Scheme of Arrangement with modifications in HC/SUM 940/2025. The exchange undertook to register the order with Singapore’s Accounting and Corporate Regulatory Authority within 10 working days of commencement of ￰1￱ resolution marks the end of a 15-month restructuring process that included forensics, police collaboration, and creditor ￰2￱ court sanctions restructuring plan after long deliberation The Singapore High Court gave a go-ahead to the restructuring plan of WazirX on October 12, ￰3￱ paved the way to staggered user recoveries under the approved ￰4￱ vote followed the vote of the creditors in January 2025, passing the 75% to approve schemes of ￰5￱ Pte Ltd, the parent company of Singapore-based WazirX, will now lodge the court order with the Accounting and Corporate Regulatory ￰6￱ lodgement will be the last administrative formality prior to ￰7￱ platform will resume within 10 working days after lodgement, said ￰8￱ platform will resume both trading as well as withdrawals after the 15-month suspension. 📢 Scheme of Arrangement Sanctioned by the Singapore High Court We are pleased to share that the Singapore Court has sanctioned the Scheme proposed by Zettai in HC/SUM 940/2025 (“SUM 940”) with modification, marking a decisive step forward in the recovery ￰9￱ Happens… ￰10￱ — WazirX: India Ka Bitcoin Exchange (@WazirXIndia) October 13, 2025 The clearance from the court marks the end of months of prolonged negotiations between lawyers, creditors, and WazirX in various ￰11￱ restructuring had already begun in September 2024 with the implementation of the first scheme in the Singapore ￰12￱ August 2024 CoinSwitch legal case to recover stranded $9.65 million on the platform offered some indication about the creditor pressures during the ￰13￱ 2024 hack stole $235M with multisig exploit The hack occurred on July 18, ￰14￱ hackers installed malicious smart contracts on July 10, 2024, exactly eight days prior to the ￰15￱ the 18th, they obtained proper-looking approval of a transaction from the required ￰16￱ then altered the multisig governing smart contract to the earlier released malicious ￰17￱ investigations revealed tactical similarities with North Korea’s Lazarus Group , such as Tornado Cash-funded caller addresses, mixing patterns, and previous campaign ￰18￱ ceased trading and withdrawals immediately after discovering the ￰19￱ exchange worked with hundreds of other platforms to blacklist attacker addresses and track fund transfers.

On-chain tracking projects had included intelligence companies along with self-described blockchain analysts like ￰20￱ were bounties offered to find the exploiter along with the retrieval of the ￰21￱ studies looked at combined ETH flows as well as noteworthy token sales, including SHIB, MATIC, as well as PEPE, with the help of mixing ￰22￱ framework targets 85% immediate distribution The approved scheme establishes differentiated recovery terms for pre-hack and post-hack deposit categories. Pre-hack deposits will receive approximately 85% recovery upfront upon scheme ￰23￱ remaining 15% will be distributed over 2-3 years through Recovery Tokens tied to platform profitability and ongoing asset recovery efforts.

Post-hack deposits will receive 100% same-token credits following the scheme’s ￰24￱ category includes funds deposited after July 18, 2024, during the platform freeze ￰25￱ distributions are expected within 30-45 days following court sanction per scheme ￰26￱ timeline allows for administrative processes, including ACRA filing, creditor verification, and distribution system ￰27￱ committed to beginning recoveries shortly after completing court formalities and regulatory ￰28￱ Token mechanisms will regulate step-by-step recoveries and buybacks up to 2026-2028 based on platform performance as well as success in tracing ￰29￱ measures permit the acceleration of full repayment in case of better-than-expected profitability or asset ￰30￱ platform’s restart will be the culmination of the longest freeze in operation among significant cryptocurrency exchanges after a ￰31￱ among users during the restructuring process enabled the court-monitored approach as opposed to swift ￰32￱ seen where it ￰33￱ in Cryptopolitan Research and reach crypto’s sharpest investors and builders.