WazirX Aims for Comeback: Resumption Dependent on Court Approval Following Major Hack

Indian cryptocurrency exchange WazirX is eyeing a potential relaunch, contingent on a decision by Singapore’s High Court on May 13th regarding its restructuring plan and user compensation. The company’s parent firm, Zettai PTE Ltd., has completed all required steps for court approval, including distributing recovery tokens to compensate affected users. If approved, WazirX aims to restart within 10 business days, with potential for users recovering 75-80% of their balances. The hack, valued at $234 million and attributed to North Korean hackers in July 2024, led to a halt on crypto and Indian rupee withdrawals.