WazirX Awaits Crucial Court Ruling on May 13th for Restart of Operations

The Singapore High Court will rule on WazirX’s restructuring plan and user compensation on May 13th. Following the Supreme Court of India’s rejection of a petition from 54 hack victims, WazirX is working towards restarting operations. The exchange has announced it anticipates this decision will allow for the restart of operations in light of the court’s ruling. In July 2023, WazirX was hacked by North Korean hackers for approximately $234.9 million worth of crypto assets, resulting in a hold on all crypto and INR withdrawals. The company states that it is ‘on track’ to restart operations after the Singapore High Court hearing set for May 13th.