WazirX Users Face Further Delays as Singapore Court Postpones Repayment Plan
WazirX’s efforts to compensate users affected by a 2024 hack have encountered another setback. The Singapore High Court deferred a decision on the exchange’s repayment proposal, demanding additional documentation by May 23 and extending the moratorium until June 6.
The ₹2,000 crore security breach in July 2024 forced WazirX to freeze majority of user assets, creating widespread uncertainty among its customer base. Once India’s premier crypto platform, the exchange now struggles to regain trust through its Singapore-based restructuring process.
Legal observers note this delay compounds the challenges for affected traders seeking recovery of frozen funds. The court’s cautious approach reflects the complexity of cross-border crypto insolvency cases.
