Krutika Adani
WazirX is on track for a potential comeback after a massive hack in July 2024. The Singapore High Court will rule on its $234M restructuring plan on May 13, 2025.
In a major step forward, over 93% of creditors have backed WazirX's post-hack recovery plan. This clears a key hurdle in the crypto exchange's effort to rebuild.
Pending court approval, WazirX plans to distribute its first compensation payments within 10 business days after the restructuring scheme becomes effective.
If the restructuring plan is approved, WazirX is set to relaunch with a decentralized exchange and recovery tokens, offering hope for recovery after one of the biggest hacks in crypto history.