WazirX Restart Update: Gets Green Light for Restructuring Plan

WazirX Restart Update: Trading Resume In 10 Day As Court Approves Plan

WazirX Restart Update:  According to a recent official announcement, the platform will resume its operation once the restructuring plan that was put forward by its parent company, Zettai Pte. Ltd., is approved by the Singapore High Court. It is the first step towards user recoveries, platform restart, and a brighter future for the most popular crypto exchange in India.

Court Approval & Filing Footprints

• The creditor-approved restructuring scheme of Zettai Pte. Ltd., and formally sanctioned by the Singapore High Court earlier denied. 

• This was approved following a vote of 95.7% of the creditors in numbers and 94.6% in value in support of the plan in August 2025. 

• In the last legal step, Zettai submitted the order to the Accounting and Corporate Regulatory Authority (ACRA) on 15 October 2025.

• This court authorization renders the reorganization legally binding to all creditors, including those who failed to cast a vote. 

• It marks the end of months of cooperation between WazirX, Zetta, and the user community, and defines a proper roadmap to recovery.

WazirX Restart Update

The court sanction will see WazirX resume operations within 10 business days of the effective date of the scheme. Trading and withdrawals will also be reinstated on the platform, after it was frozen 15 months earlier due to the July 2024 cyberattack.

The token distributions to users will commence, such as Recovery Tokens that will enable staged repayments. The users will have the information on timelines and procedures, and there will be transparency and confidence in the process.

Source: Official X

Security Measures and WazirX Recovery Plan.

• Pre-hack deposits before 18 July 2024 will be given about 85% in advance, and the remaining 15% will be given out in Recovery Tokens over 2-3 years.

• The same tokens will be refunded 100% to post-hack deposits (after 18 July 2024).

• The Recovery Tokens also incorporate buyback arrangements, whereby more rapid repayments can be made in case the platform becomes more profitable than expected or the platform recovers more assets.

• In an effort to secure user money, the crypto exchange has collaborated with BitGo, a custodian that is reputable custodian worldwide and a market leader. This guarantees a strong security framework for the recovered assets and the current operations.

Importance of This Step

• The restructuring, which was sanctioned by the court, is one of the quickest recovery procedures in the global crypto-world. 

• It offers creditors an easy way of repaying the debts, reduces the chances of bankruptcy reinstates confidence among the users.

• The platform will be able to resume its operations in India, pay its creditors, and establish a stronger presence in the Indian crypto ecosystem.

Background of WazirX

In July 2024, WazirX suffered Hack of $234 million. The North Korean Lazarus Group has been attributed to the attack. After the hack, WazirX shut down trading and withdrawals immediately and cooperated with the authorities and coordinated with several platforms to track stolen assets. 

The restructuring process took 15 months and included forensics, collaboration with the police, creditor negotiation, and proceedings in the court, which led to the present sanction and the recovery plan.

Conclusion

As the platform will be re-launched in 10 business days, and the recovery plan is clear and the platform will be able to secure its presence in the Indian crypto ecosystem.