WazirX has cleared a major hurdle. The Singapore High Court has sanctioned its creditor‑approved restructuring scheme, enabling the embattled crypto exchange to move ahead with recovery and restart plans. This decision follows overwhelming support: more than 95 % of creditors voted in favor of the revised scheme.
With court approval in place, WazirX’s parent entity, Zettai Pte Ltd, will now file the order with Singapore’s regulatory body ACRA. Once the scheme becomes effective, the exchange plans to resume services within 10 business days. Token distributions to eligible creditors will begin soon after the relaunch.
Earlier this year, the court had rejected WazirX’s initial restructuring plan due to transparency concerns and undisclosed details. In response, the company revised its proposal, addressing concerns by routing repayments through its India‑based arm, Zanmai Labs, under stricter regulatory oversight. That version secured strong support in a revote.
WazirX’s 2024 security breach led to losses of over US$230 million. The approved scheme marks a turning point: it offers a legal path to recover funds, rebuild user trust, and potentially resume full trading operations. If all goes well, affected users may finally start seeing returns on their holdings.
#CourtSanction
#WazirX
#RestructuringScheme
#SingaporeHighCourt
#TokenDistribution
#CreditorApproval
#CryptoRecovery
#ZettaiPteLtd
#ZanmaiLabs
#CryptoExchange
