WazirX Creditors Approve New Restructuring Plan

YM Lee

Summary

WazirX's creditors have expressed approval for the new restructuring plan.
WazirX temporarily suspended crypto asset and fiat withdrawals following an approximately $234 million hacking incident.
It was explained that if the Singapore High Court approves the new restructuring proposal, compensation will be provided to users within 10 days.

Creditors of WazirX, the Indian cryptocurrency exchange that suffered a $234 million hacking incident, have approved a new restructuring plan.

According to a July 20 (local time) report by Cointelegraph, WazirX had approximately $234 million worth of crypto assets stolen in a hacking attack by North Korean hackers in July 2024. As a result, all crypto assets and fiat currency withdrawals were temporarily suspended.

Nischal Shetty, founder of WazirX, explained, "If the Singapore High Court approves the new restructuring proposal, compensation will be provided to users within 10 days."

YM Lee

20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE

WazirX Creditors Approve New Restructuring Plan

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