Crypto Victory: WazirX Users to Reclaim $235M After Landmark Court Ruling
Indian crypto traders just scored a massive legal win that'll make traditional bankers sweat.
The Recovery Process
Court-approved restructuring means $235 million flowing back to users' pockets—proving blockchain transparency actually works when regulators step in. No more frozen funds, no more excuses.
Market Implications
This sets precedent for exchange accountability worldwide. While traditional finance still struggles with wire transfer delays, crypto settlements demonstrate real-time value transfer can't be ignored.
Funny how the 'unregulated wild west' handles user protection better than some licensed institutions—maybe banks should take notes on actual customer service for once.
CEO Nischal Shetty thanks users
WazirX CEO Nischal Shetty posted on X to thank the community. He said the court’s approval was possible because of users’ support and patience and emphasized that the team is now moving to the next phase, focusing on rebuilding trust and creating value.
“Thank you to everyone who supported this difficult phase of WazirX. The Singapore High Court has approved the scheme. Its your support and love that has made this possible. Now we set out on the next phase to work hard and create value for everyone. We’re here because of YOU,” Shetty wrote.
WRX token jumps
Following the announcement, WazirX’s native token WRX ROSE almost 21% in a day. It traded at $0.05513, with a market cap of $21.05 million and an unlocked market cap of $54.03 million.
Its 24-hour trading volume over 24 hours also jumped 26.22% to $83.36K.
Withdrawals yet to begin
According to WazirX’s earlier updates, withdrawals were expected to start 10 days after the court approval, but no date has been announced yet. Still, the ruling indicates that the long-delayed recovery process is finally moving toward an end after more than 1.3 years of uncertainty.
WazirX now faces the task of executing payouts while staying in line with regulators, giving users a chance to reclaim part of their funds, and restoring confidence in the platform.
Also Read: Is a Key Signature Still Holding Back WazirX’s Recovery Plan?
