Singapore Court approves WazirX’s restructuring plans following $230-mn hack

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In a major boost to WazirX’s revival efforts, the High Court of Singapore has sanctioned the creditor-approved restructuring scheme proposed by Zettai Pte Ltd, with modifications.

This approval follows the re-vote in August 2025, where 95.7% of voting creditors — representing 94.6% in value — supported the revised scheme.

WazirX’s $230-mn hack

The sanction marks a critical step in the company’s recovery process after WazirX lost nearly 45 percent of its crypto assets worth $234 million in a cyber attack back in July 2024

WazirX operates through two entities, a parent company – Zettai Pte in Singapore and Zanmai Labs in India.

What did the founder said?

“The sanction represents a key milestone in WazirX’s journey since it marks one of the fastest restructurings in the global crypto industry, despite suffering one of the biggest cyberattacks in the history of this space,” said Nischal Shetty, Founder of WazirX.

He added, “As soon as the scheme is legally effective based on today’s verdict, we will start platform operations within 10 business days. To everyone who stood by us with patience and belief — thank you.”

Next steps

Following the court’s decision, Zettai Pte Ltd will file the order with Singapore’s Accounting and Corporate Regulatory Authority (ACRA). Once the scheme becomes effective, WazirX will restart operations and begin token distributions to creditors within 10 business days.

Zettai said all scheme creditors will be notified about the relevant legal filings and timelines in due course.

With the relaunch, WazirX aims to reinforce its position in the Indian crypto ecosystem. The company has also tied up with BitGo, a global leader in digital asset custody, to bolster fund security.

The long-awaited restructuring plan’s approval was critical to allow rebalancing of tokens that would have enabled impacted users to recover up to 85 percent of the value of tokens lost in the initial phase.