Singapore Court Extends WazirX’s $234M Crypto Moratorium in Final Restructuring Bid

The Singapore High Court has granted WazirX a final opportunity to argue for its restructuring plan, extending the legal moratorium shielding the embattled Indian exchange from creditor claims. This follows a year of uncertainty after a $234 million hack froze user funds.

Court documents reveal the moratorium—originally set to expire in June 2025—now remains until judges rule on WazirX's revised Scheme of Arrangement. The exchange's initial proposal was rejected over transparency concerns, leaving 1.2 million users in limbo.

Legal experts suggest this marks a critical juncture for India's crypto ecosystem. "Exchanges globally are watching how jurisdictions handle post-hack recoveries," said Rajat Sharma, a Singapore-based insolvency specialist. The case could set precedents for crypto bankruptcies across Asia.