The High Court of Singapore has granted the Indian cryptocurrency platform Wazirx the possibility of presenting other arguments in its current restructuring case. After months of anticipation and silence, Wazirx confirmed the extension of his moratorium on the court via an article on X (formerly Twitter).
The Singapore court allows Wazirx to present its case
Previously, the court had refused to approve the restructuring plan of Wazirx, which prompted the company to file a relocation to Panama and to rename itself as Zensu Corporation. However, the tide can turn. In a press release, Wazirx announced:
“The Singapore court granted our request for presentation of new arguments in our request for sanction by the court of the project of provision.
This extension could give Wazirx a last chance to solidify its restructuring plan and potentially start to resolve user reimbursements.
Will Wazirx users finally recover their funds?
Since the hacking of $ 234 million in July 2024, thousands of users have waited in vain for a clear communication or remuneration. Wazirx had previously promised to return 85% of user sales, but this commitment was mired in legal delays and unclear updates.
Despite the growing pressure on social networks, the company has largely silent, offering only generic insurances like “we do our best”. In their latest tweet, Wazirx said:
“We are currently waiting for court directions on the next steps and will keep you informed as soon as we have more clarity.”
This statement, although more official, still lacks concrete deadlines – leaving frustrated users and in limbo.
- Read also:
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A year later: still pending
As July 2025 approach, he has marked a year since the Wazirx security violation – one of the largest cryptographic hacks in 2024. Prolonged silence and the lack of action let users question the company’s commitment to recovery.
The last decision of the High Court of Singapore offers a glimmer of hope, but only if Wazirx takes steps quickly and transparent.
Final reflections
Wazirx’s restructuring and moratorium extension could be a turning point, but the real reimbursement of users or delays remains to be seen. With the growing pressure and the legal deadlines that are getting closer, Wazirx must act quickly to regain confidence and credibility in the cryptographic community.
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Faq
THE Singapore High Court has Wazirx authorization granted to present other arguments concerning his restructuring plan and a extended the moratorium on legal action. This allows Wazirx more time to offer how they will manage debts, including user refunds.
Wazirx had previously promised to come back up to 85% User sales based on assets at the time of hacking. However, real reimbursements have not startedAnd users are waiting for a final resolution approved by the court.
From now on, there is No fixed chronology. Wazirx recently tweeted that they “expect court instructions”, which means that users must wait Next hearing result To find out the reimbursement hours.
Currently, Most of the withdrawals remain limited For affected users. Only a few assets can be accessible depending on the user accounts, which could change after court decisions.
