Archive · 19 May 2025
WazirX Reimbursement Delayed by Singapore Court Until June 6
WazirX, a crypto exchange, had a security breach last year, and now they're trying to pay back users.
They got approval from most people, but a Singapore court needs to give the final okay.
The court has asked for more paperwork and extended the deadline to June 6.
This is delaying when people will get their money back.
The parent company, Zettai, initially requested a short pause but it has been extended.
A previous hack resulted in the theft of millions.
Users are frustrated and questioning the delays, as the exchange originally committed to distributing funds within seven days.
WazirX is facing delays in its reimbursement plan following a hack last year.
The Singapore High Court has deferred the case and extended the moratorium to June 6.
The court requested more documentation from WazirX and its parent company Zettai.
Creditors approved a restructuring scheme involving recovery tokens.
A 2024 hack led to $230 million in losses for the exchange.
- Who
- WazirX and its parent company Zettai, along with their creditors
- What
- A delay in the reimbursement plan due to court proceedings and required documentation.
- When
- The case has been deferred, with a new moratorium extending to June 6.
- Where
- Singapore High Court
- Why
- To finalize the reimbursement process following a hack and obtain court approval.
Users
WazirX
User Concerns
Users
Users are frustrated with the delays and court involvement in the reimbursement process.
WazirX
WazirX is working to finalize the process and providing updates, stating they are doing everything they can.
- Court Involved
- Singapore High Court
- New Moratorium Date
- June 6
- WazirX Parent Company
- Zettai
- Claims Involved
- $195 million
- Hack Date
- July 2024