Singapore High Court Approves WazirX's Debt Repayment Plan
The Singapore High Court has approved WazirX's amended debt repayment plan, allowing the crypto exchange to resume operations.
WazirX suffered a cyberattack that resulted in the loss of nearly $230 million in crypto assets, but with the approved plan, the company can now move forward.
As soon as the scheme is legally effective based on today’s verdict, we will start platform operations within 10 business days
said Nischal Shetty, founder and CEO of WazirX. The company operates through two entities: Zettai in Singapore and Zanmai Labs in India.
- Next step: WazirX's parent company will file the Singapore HC order with the Accounting and Corporate Regulatory Authority (ACRA).
Author's summary: WazirX to resume operations after court approval.