Archive · 19 May 2025
WazirX Investors Face More Delays Amid Extended Moratorium
Imagine a crypto exchange called WazirX got hacked, and lots of money was stolen.
Now, the company is trying to fix things by restructuring.
A court in Singapore is helping.
The court has delayed the process, which means people who had money on WazirX will have to wait longer to get their funds back.
The company needs the court's approval to start giving money back to users.
The majority of people affected have agreed with the plan, but now they have to wait a bit longer.
WazirX investors face further delays as a Singapore court extends the moratorium to June 6.
The exchange seeks restructuring after a 2024 hack led to a $230+ million loss.
Over 90% of voting creditors support WazirX's restructuring scheme.
The court directed WazirX to file further affidavits by May 23, 2025.
Investors are concerned about platform restart and fund distribution.
- Who
- WazirX and its investors
- What
- A court extended the moratorium on WazirX amid its restructuring.
- When
- Moratorium extended to June 6, 2025.
- Where
- Singapore
- Why
- To allow WazirX to finalize its restructuring plan and seek approval.
- Exchange
- WazirX
- Moratorium Extension
- To June 6, 2025
- Reason for Extension
- Restructuring scheme approval
- Voting Creditor Support
- 93.1% approved restructuring
- Hacking Incident
- 2024, multi-signature wallet, over $230M lost
- Alleged Attackers
- North Korean hackers