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Business

WazirX’s Court Hearing Date Finalized

WazirX is set for a major court hearing in Singapore on May 13th, which could approve its restructuring plan and allow operations to resume.

Haider Jamal
April 22, 2025

Major Backing

The Indian crypto exchange was crippled by a $235 million hack in July 2024, attributed to North Korean hackers, forcing it to freeze withdrawals.

Source: Chainalysis

Over 93% of creditors have backed the recovery plan, which includes issuing tradable Recovery Tokens and launching a decentralized exchange.

Possible Further Delays

If the aforementioned recovery plan is approved, WazirX says payments to creditors will begin within 10 business days.

The company warns that without court approval, repayments could be delayed until 2030. Meanwhile, rival CoinSwitch has filed a lawsuit over funds locked on the platform.

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