WazirX Hack Update: Singapore Court Refuses Restructuring Plan

The WazirX cryptocurrency exchange has faced a setback in its efforts to repay creditors after the Singapore High Court rejected their proposed restructuring plan. Despite the exchange’s appeal, the rejection leaves the fate of over $235 million stolen during the 2022 hack hanging in limbo. Creditors are left uncertain about receiving compensation for their losses. WazirX stated its intention to appeal the decision and initiate distributions as soon as feasible, though it remains unclear how this will be achieved given the court’s rejection.