“We will begin platform operations within 10 business days of the program being legally effective based on today’s ruling,” founder Nischal Shetty said.
WazirX’s attempts to recover have been greatly aided by the High Court of Singapore’s approval of the restructuring plan put up by Zettai Pte Ltd, which was accepted by creditors, although with some changes.
This approval comes after the August 2025 re-vote, in which 95.7% of voting creditors, or 94.6% of the total value, voted in favor of the amended plan.
The $230 million WazirX hack
Following a cyberattack in July 2024 that cost WazirX approximately 45% of its cryptocurrency holdings, valued at $234 million, the punishment represents a significant milestone in the company’s rehabilitation effort.
In order to do business, WazirX uses two parent companies: Zanmai Labs in India and Zettai Pte in Singapore.
What was stated by the founder?
Nischal Shetty, the founder of WazirX, said, “The sanction signifies a crucial milestone in WazirX’s path as it reflects one of the quickest restructurings in the global crypto sector, despite suffering one of the greatest hacks in this space’s history.”
“We will begin platform operations within 10 business days of the plan being legally effective based on today’s ruling,” he said. We are grateful to everyone who supported us with tolerance and faith.
Next actions
Zettai Pte Ltd will submit the order to Singapore’s Accounting and Corporate Regulatory Authority (ACRA) after the court’s ruling. Within ten business days of the plan going into force, WazirX will resume operations and start distributing tokens to creditors.
According to Zettai, all plan creditors will get notifications in due course on the relevant court documents and deadlines.
WazirX hopes to strengthen its place in the Indian cryptocurrency market with the relaunch. To strengthen fund protection, the business has also partnered with BitGo, a world leader in digital asset custody.
The acceptance of the long-awaited restructuring plan was essential for enabling token rebalancing, which would have allowed affected users to regain up to 85% of the token value they had lost during the first phase.