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WazirX Debt Recovery Plan Approved by Singapore Court, Creditors to Receive Payouts Soon

WazirX Debt Recovery Plan Approved by Singapore Court, Creditors to Receive Payouts Soon

Author:

Global Cryptocurrency

Published:

2025-10-13 11:29:02

9

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BTCCSquare news:

WazirX, the Indian cryptocurrency exchange that suffered a $234.9 million hack in 2024, has secured Singapore High Court approval for its debt restructuring plan. This marks a pivotal step toward stabilizing the platform and restoring user confidence.

CEO Nischal Shetty announced the development on social media, crediting community support for overcoming procedural hurdles. The revised plan received overwhelming creditor backing, with 95.7% approval in August 2025 after an initial rejection in June.

The breach, attributed to North Korea's Lazarus group, had threatened the exchange's viability. Today's court endorsement accelerates the path to creditor repayments and operational normalization.

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