WazirX Moves Closer to Restructuring With Singapore Court’s Latest Approval

A Singapore court has granted the Indian cryptocurrency exchange WazirX an extension on a legal moratorium related to its ongoing restructuring efforts. The development is the latest in the exchange’s attempt to recover from a $234 million exploit linked to North Korean hackers that occurred nearly one year ago.

In its latest announcement, the crypto exchange told users that the Court has granted its request to present further arguments in its application for the Court’s sanction of a proposed Scheme of Arrangement.

Court Extends Moratorium, Delays Final Decision

According to WazirX, the Court extended the initial deadline for the moratorium granted from June 6, 2025, until the disposal of the arguments. Hence, the exchange is waiting for the Court’s direction on the next steps ahead of a planned restructuring and compensation to users affected during the platform exploit.

It is worth noting that the latest announcement by WazirX amounts to an extension of users’ expectations of service resumption after the trading platform suspended its services several months ago. July 18, 2025, will mark one year since North Korean hackers attacked WazirX, leading to a significant loss of funds and service suspension.

Related: Zettai Technologies to Fight Singapore Court’s Rejection of Its WazirX Restructuring Plan

The WazirX exploit was one of several crypto-related thefts the industry experienced in 2024. According to Chainalysis, the cryptocurrency industry lost approximately $2.2 billion to hackers and thieves in 2024, reflecting a 21% increase from the previous year.

Details of the Creditor-Approved Restructuring Plan

Despite falling victim to the exploit, 90% of WazirX users supported the crypto exchange’s restructuring plan. The users voted in March after the crypto exchange publicized the restructuring plan, which included a compensation process and moving its legal action to Singapore.

Related: WazirX Restructuring Nears Final Hurdle with May 13 Court Hearing Date

According to reports, 141,476 Scheme Creditors representing $195,650,529.03 in Approved Claims participated in the voting process, which the crypto exchange conducted via the Kroll Issuer Services platform between March 19 and March 28. Some WazirX users criticized the voting process, citing a conflict of interest. They wanted the exchange to conduct the voting on an independent platform.