Customers of WazirX, the Indian cryptocurrency exchange that suffered a $234 million hack in July, are unlikely to recover their funds in full through the Customers of WazirX, the exchange that suffered a $234 million hack in July, are unlikely to recover their funds in full through the ongoing restructuring process.

WazirX's first creditor meeting raised eyebrows with only 4 out of 10 members attending. Explore the implications for this troubled cryptocurrency exchange.

WazirX could restart operations next month, as the hacked trading platform awaits a crucial court decision in Singapore that could clear the way for its post-hack recovery plan and user compensation scheme. After nearly nine months of inactivity, WazirX could finally resume services if Singapore’s High Court approves its restructuring plan, the company said in an April 21 update to X.

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The Singapore High Court has rejected the moratorium application filed by Zettai, the parent company of crypto exchange WazirX, which sought to restructure the firm and redistribute funds to users affected by last year’s $234 million hack. Zettai also revealed to the court that in March it had opened a new firm in Panama and rebranded as Zensui. WazirX had secured a four-month conditional moratorium from the Singapore High Court in September 2024. In a statement, WazirX revealed to users that they plan to appeal the decision of the Singapore High Court.

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