Archive · 5 Jun 2025
Singapore Court Rejects WazirX's Restructuring Plan
A Singapore court rejected WazirX's plan to return money to users after a $230 million hack.
WazirX, previously India's largest crypto exchange, had a restructuring plan aiming for users to recover up to 85% of lost funds.
The court's decision means the plan cannot proceed as is.
WazirX is appealing the decision and says user funds (NLPA) are safe.
The exchange says they are still committed to returning funds to impacted users and are considering legal options.
The Singapore High Court rejected WazirX's restructuring plan.
The plan aimed to return funds to users impacted by a $230 million hack.
WazirX is evaluating legal options and appealing the court's decision.
The exchange's NLPA remain safe despite the ruling.
WazirX was previously India's largest crypto exchange before the hack.
- Who
- The Singapore High Court and WazirX, along with affected users.
- What
- The Singapore High Court rejected WazirX’s restructuring plan following the $230 million hack.
- When
- June 4, 2025
- Where
- Singapore
- Why
- The court did not approve WazirX's restructuring plan for user reimbursements.
WazirX's Position
Singapore High Court
Restructuring Plan
WazirX's Position
WazirX is appealing to overturn the court’s decision and proceed with its user reimbursement plans.
Singapore High Court
The court declined to approve the restructuring plan.
- Restructuring Plan Status
- Declined
- Court Decision
- Singapore High Court
- Funds Involved in Hack
- $230 million
- Potential User Recovery
- Up to 85%
- Registered Entity
- Zanmai Labs (India)
