WazirX to Resume Operations Pending May 13 Court Decision 

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Indian crypto exchange WazirX, which experienced a $234 million hack last July, is preparing to resume operations, contingent on a court decision regarding its restructuring proposal and user compensation plan on May 13.

If approved by Singapore’s High Court, WazirX’s parent company, Zettai PTE Ltd, will be able to relaunch the exchange and initiate compensation for users within 10 business days, according to an April 21 update.

The hack, attributed to North Korean hackers, resulted in the loss of $234 million in crypto from a Safe Multisig wallet, prompting a temporary halt on all crypto and Indian rupee withdrawals.

Zettai has completed the necessary preliminary steps, with the next crucial step being the sanction hearing scheduled for May 13, 2025, by the Singapore High Court.

This hearing is vital for the scheme to gain legal standing. While the company has been working to adhere to the anticipated timelines, it acknowledges the independence of court proceedings and respects the legal process.