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Singapore Court Approves WazirX Plan: Users to Recover 55%

Singapore Court Approves WazirX Plan: Users to Recover 55%

Author:

Global Cryptocurrency

Published:

2025-10-13 08:08:02

17

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BTCCSquare news:

The Singapore High Court has greenlit a restructuring plan for WazirX, enabling users to reclaim up to 55% of the $235 million lost in a July 2024 hack. After months of legal hurdles—including an initial rejected proposal—creditors overwhelmingly backed the revised plan with 95% support.

Payouts, denominated in USDT equivalents, are slated for distribution within 10 business days. The resolution marks a critical milestone for WazirX's 16 million predominantly Indian user base, offering respite amid ongoing recovery efforts and regulatory scrutiny.

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