• Singapore High Court approved WazirX’s restructuring scheme.
• ACRA filing triggers legal effectiveness and restart in 10 business days.
• Plan includes token-based repayments after the $234 million 2024 hack.

The Singapore High Court has approved WazirX’s long-awaited restructuring plan, completing a key stage in the exchange’s efforts to recover from the $234 million hack that shut down operations in July 2024. 

The ruling ended a long stretch of uncertainty after the July 2024 breach and has given the exchange a court-backed path to restore trading and settle creditor claims. The approval followed a creditor vote on a revised proposal that set the mechanics for distributions and platform relaunch under court supervision.

Read The Full Article WazirX Wins Singapore Court Approval; Restart In 10 Days, Repayments Next On Coin Edition.

• Singapore High Court approved WazirX’s restructuring scheme.
• ACRA filing triggers legal effectiveness and restart in 10 business days.
• Plan includes token-based repayments after the $234 million 2024 hack.

The Singapore High Court has approved WazirX’s long-awaited restructuring plan, completing a key stage in the exchange’s efforts to recover from the $234 million hack that shut down operations in July 2024. 

The ruling ended a long stretch of uncertainty after the July 2024 breach and has given the exchange a court-backed path to restore trading and settle creditor claims. The approval followed a creditor vote on a revised proposal that set the mechanics for distributions and platform relaunch under court supervision.

Read The Full Article WazirX Wins Singapore Court Approval; Restart In 10 Days, Repayments Next On Coin Edition.