WazirX Targets Mid-May Relaunch Following $235 Million Security Breach and Court Dispute

Indian cryptocurrency exchange WazirX plans to resume operations by mid-May after addressing fallout from a major $235 million hack and resolving ongoing legal challenges. The platform’s return marks a critical recovery phase for one of India’s largest digital asset trading venues.

• WazirX plans to reopen its services mid-May 2025, depending on the final decisions of the court on May 13.
• More than 93% of creditors approved WazirX’s recovery strategy that includes starting a decentralized exchange (DEX), giving out recovery tokens, and slowly buying them back.

WazirX, one of the biggest Indian crypto platforms, plans to restart its services by mid-May 2025. The company said it’s still on track to reopen in April or May, depending on the Singapore court’s final decision.

After facing a major $235 million hack nearly a year ago, the exchange is now ready to relaunch, supported by strong backing from creditors. Investors across India are looking forward to its return, and the Zettai team has revealed key dates for the first phase of lost asset distribution.

WazirX Awaits Legal Approval

WazirX shared that its parent firm, Zettai, has finished all the primary steps needed for the next phase. The final stage is a court session set for May 13, when the Singapore High Court will decide on the future of the company and its plan to recover from the hack. This ruling is key to knowing if the platform can move ahead with its comeback.

📢 Update on Restructuring Process

The Sanction Application has been filed with the Singapore Court. Following the filing, the Court has scheduled the hearing for 13th May 2025.

This marks an important step forward in our restructuring journey while staying on track with the… pic.twitter.com/ytFiPPM6NL

If the judge agrees, WazirX will begin giving back funds and restart its services within ten working days. The exchange said it hopes to follow the planned schedule but also admitted that legal matters are not in the hands of the platform. Any delay in the verdict might affect the timing, though the team is prepared to act fast once approval comes through.

Earlier, WazirX shared an update about the Scheme of Arrangement vote. According to them, the proposal is designed to prevent the platform from closing down thereby launching a decentralized exchange (DEX), giving recovery tokens, and slowly buying them back over time.

The report showed that 93.1% of voting members, holding 94.6% of the total value, agreed to the plan. Around 141,000 eligible parties with about $195 million in approved claims took part in the vote, and nearly 131,000 of them, representing roughly $185 million, supported the move.

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