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WazirX Secures Court Approval for Restructuring After $234M Hack

WazirX Secures Court Approval for Restructuring After $234M Hack

Author:

Global Cryptocurrency

Published:

2025-10-14 00:57:01

11

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BTCCSquare news:

Singapore's High Court has approved a restructuring plan for WazirX, enabling the crypto exchange to proceed with repaying users affected by a $234 million hack in July 2024. The court-supervised recovery process, greenlit on October 13, 2025, follows overwhelming creditor support—95.7% of participating voters backed the revised proposal.

The breach, attributed to sophisticated cyber operators, exploited a SAFE Multisig wallet and forced WazirX to freeze withdrawals. Founder Nischal Shetty acknowledged community resilience in a social media post, signaling a new phase focused on value creation. The plan covers 143,190 creditors with $196 million in approved claims.

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