WazirX Users to Receive Funds in May, Court Approval Needed

After a nine-month delay following a Rs 2000 crore cyber attack on WazirX in July 2024, the cryptocurrency exchange has made progress towards resolving user funds. The exchange’s restructuring plan received overwhelming support from users via an online vote. However, full recovery of funds is contingent upon court approval. The first phase of fund distribution is expected to begin after a Singapore High Court hearing on May 13th. This process could then take only about 10 business days for completion. While WazirX’s management anticipates May end as the earliest point of retrieval, user timelines could be extended into June based on current expectations.