The Singapore High Court has granted Indian cryptocurrency platform WazirX the opportunity to present further arguments in its ongoing restructuring case. After months of anticipation and silence, WazirX confirmed the extension of its court-granted moratorium via a post on X (formerly Twitter).
Previously, the court had declined to approve WazirX’s restructuring plan, prompting the company to file for relocation to Panama and rebrand itself as Zensui Corporation. However, the tide may be turning. In a statement, WazirX announced:
“The Singapore Court has granted our request to present further arguments in our application for the Court’s sanction of the proposed Scheme of Arrangement. Additionally, the Court has extended the moratorium… from 6 June 2025 until the disposal of the aforesaid further arguments.”
This extension could give WazirX a final chance to solidify its restructuring plan and potentially begin resolving user repayments.
Since the $234 million hack in July 2024, thousands of users have waited in vain for clear communication or compensation. WazirX had earlier promised to return 85% of user balances, but that pledge has been mired in legal delays and unclear updates.
Despite mounting pressure on social media, the company has largely remained silent, offering only generic reassurances like “we are doing our best.” In their latest tweet, WazirX stated:
“We are currently awaiting directions from the Court on the next steps and will keep you informed as soon as we have more clarity.”
This statement, while more official, still lacks concrete timelines—leaving users frustrated and in limbo.
As July 2025 approaches, it marks one year since the WazirX security breach—one of the largest crypto hacks of 2024. The extended silence and lack of action have left users questioning the company’s commitment to recovery.
The latest ruling by the Singapore High Court offers a ray of hope—but only if WazirX takes swift and transparent steps forward.
WazirX’s restructuring and moratorium extension could be a turning point—but whether it leads to actual repayment for users or more delays remains to be seen. With mounting pressure and legal timelines closing in, WazirX must act fast to regain trust and credibility in the crypto community.
The Singapore High Court has granted WazirX permission to present further arguments regarding its restructuring plan and has extended the moratorium on legal action. This allows WazirX more time to propose how they will handle debts, including user repayments.
WazirX previously promised to return up to 85% of user balances based on holdings at the time of the hack. However, actual repayments have not yet started, and users are awaiting a final court-approved resolution.
As of now, there is no fixed timeline. WazirX recently tweeted that they are “awaiting directions from the Court,” which means users must wait for the next hearing outcome to know repayment schedules.
Currently, most withdrawals remain restricted for affected users. Only a few assets may be accessible depending on user accounts, and this could change after court rulings.
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