WazirX Wins Singapore Court Approval; Restart In 10 Days, Repayments Next

• Singapore High Court approved WazirX’s restructuring scheme.
• ACRA filing triggers legal effectiveness and restart in 10 business days.
• Plan includes token-based repayments after the $234 million 2024 hack.

The Singapore High Court has approved WazirX’s long-awaited restructuring plan, completing a key stage in the exchange’s efforts to recover from the $234 million hack that shut down operations in July 2024. 

The ruling ended a long stretch of uncertainty after the July 2024 breach and has given the exchange a court-backed path to restore trading and settle creditor claims. The approval followed a creditor vote on a revised proposal that set the mechanics for distributions and platform relaunch under court supervision.

Scheme of Arrangement Sanctioned by the Singapore High Court

We are pleased to share that the Singapore Court has sanctioned the Scheme p…

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