Singapore Court Approves WazirX Plan: Users to Recover 55%

The post Singapore Court Approves WazirX Plan: Users to Recover 55% appeared first on Coinpedia Fintech News

The Singapore High Court has approved the restructuring plan for Indian crypto exchange WazirX. This decision allows users to recover up to 55% of the $235 million lost in a July 2024 hack. Following months of legal challenges, including an earlier rejected plan and a revote with 95% creditor support, payouts in USDT equivalent are expected within 10 business days. The move brings significant relief to WazirX’s 16 million mainly Indian users amid ongoing recovery and regulatory efforts.