Binance-Affiliated WazirX Faces Critical Singapore Court Hearing Amid User Fund Lockout
WazirX, a cryptocurrency exchange associated with Binance, has submitted its affidavit to Singapore's High Court as it prepares for a pivotal hearing on July 15 regarding a proposed scheme of arrangement. The exchange continues to grapple with user frustration nearly a year after a significant security breach left many unable to access their funds. With arguments set for July 15 and a contingency date of July 16, this legal proceeding marks a crucial juncture for WazirX and its affected users.
WazirX's Singapore Court Hearing Approaches Amid Growing User Frustration
WazirX has filed its affidavit in Singapore's High Court as part of ongoing proceedings for a proposed scheme of arrangement. The exchange faces mounting pressure from users who remain locked out of funds nearly one year after a major security breach.
The court has scheduled arguments for July 15, with July 16 reserved as a contingency date. This development follows WazirX's July 4 submission deadline. Meanwhile, community unrest intensifies as affected users demand transparency regarding unhacked assets and alleged corporate restructuring through offshore entities.
A recent 40-page affidavit by user Romy Johnson accuses the exchange of obfuscating asset movements through Panamanian shell companies. The timing proves particularly sensitive as July 18 marks the anniversary of the unresolved hack that initially froze user withdrawals.
Ethereum Whale Accumulation Signals Potential Breakout Toward $4,000
Ether's price action reveals institutional-grade accumulation patterns as large holders position for a potential breakout. The cryptocurrency has established a foothold above $2,520 after bouncing from its $2,350 accumulation range, with technical analysts identifying a Wyckoff pattern that projects intermediate targets between $2,800 and $3,500.
Notable whale activity underscores the bullish thesis. Blockchain data shows a single entity withdrawing $17.5 million worth of ETH from Binance over three weeks, suggesting strong hands are building positions. The current consolidation below $2,550 represents a typical pause after testing the 76.4% Fibonacci retracement level of the recent swing from $2,636 to $2,475.
Market structure remains constructive despite the rejection NEAR $2,600 resistance. The sustained demand near $2,520 support, coupled with the 100-hour moving average acting as dynamic support, creates favorable conditions for another leg higher. Traders are watching for a decisive close above $2,800 to confirm the next phase of the rally toward the psychologically important $4,000 level.
BNB Price to Hit $900: Historical Patterns Resurface
BNB's price structure shows bullish momentum, fueled by strengthened fundamentals and the recent Maxwell update. Scheduled maintenance on July 4th underscores Binance Smart Chain's commitment to performance enhancements, driving increased user adoption.
PancakeSwap-AMM, the leading DEX on BSC, now commands over 64% of the network's protocol revenue, hitting a 50-day moving average all-time high. Trading volumes and fees have surged in 2025, with PancakeSwap at the forefront of this growth.
Historical patterns from early 2024 suggest a potential rally mirroring past trends. Analysts project BNB could reach $900 as BSC solidifies its DeFi dominance and on-chain metrics accelerate.
