It will be a year in two months since the $235 million WazirX hack took place. And the exchange still doesn’t have a clear solution for its creditors. As the Singapore High Court rejected its proposed restructuring scheme, the WazirX hack saga is back to square one, with creditors wondering
A wave of excitement and fear at the same time can be witnessed in the users of WazirX as the Singapore High Court is going to review the recovery plan of the exchange on May 13, 2025. If the plan is approved, this move will be the first actual step
The recently hacked Indian crypto exchange, WazirX, has announced that it is on the way to restarting its operations, awaiting a court ruling on May 13 concerning its restructuring and user compensation plan. In July last year, the exchange was hacked for around $234.9 million worth of crypto assets by
In a major blow to WazirX users, the Supreme Court has dismissed a criminal writ petition filed by 54 individuals seeking action against the crypto exchange and its co-founder Nischal Shetty over last year’s massive $230 million (₹2,000 crore) crypto hack. The court made it clear that it isn’t the
WazirX customers can finally heave a sigh of relief. In a much-awaited turn of events, the cryptocurrency exchange has officially filed its sanction application before the Singapore Court as part of its on-going restructuring exercise after a disastrous cyberattack in 2024. The court has scheduled May 13, 2025, for hearing.
WazirX has gotten massive support from its users for a recovery plan after it lost more than $230 million in a hack. Over 93% of voting users voted “yes” for the plan, and they account for around 94.6% of the total amount involved in the claims. 2024 WazirX Hack recovery
Indian cryptocurrency exchange WazirX has officially concluded the voting process for its Scheme of Arrangement, marking a crucial step in its restructuring efforts following last year’s $235 million hack. More than 15 million users were affected, and frustrations are growing over the exchange’s handling of the situation. The vote on
It’s been several months since the WazirX hack happened in July 2024. The exchange has been making several announcements regarding paying back to its creditors. As per its previous intimation, the voting process on the proposed restructuring scheme finally began. It will dictate the course of action of WazirX and
Recently it made progress by freezing $3 million in stolen USDT, but its recovery efforts hit a roadblock due to controversy surrounding Jason Kardachi. He has been a key figure in WazirX’s restructuring plan but is now facing a legal ban in Singapore, raising concerns about his role. Why is
Indian crypto exchange WazirX’s CEO Nischal Shetty has requested users to approve a restructuring scheme post the hack. At least half of the creditors must vote in favor of the Scheme for it to be approved. And each class’s value-weighted creditors must be present and vote for it to pass.
